Edmonton Condo Market according to Genworth

The Conference Board of Canada and Genworth Financial Canada offers an in-depth analysis of the condominium market for Canada’s six largest census metropolitan areas (CMAs).


"Edmonton’s condominium market has skyrocketed in recent years,
but no drastic correction is anticipated over the 2007 to 2011 period.
Demand is expected to ease from the dizzying heights reached in the
first half of 2006, but it will still remain strong, especially when compared
with historical standards."

You can see the entire report here:

http://www.genworth.ca/mi/eng/downloads/Metro_Condo_Outlook_Winter07.pdf

The report suggests that other than the usual "hot economy", age demographics will play as a huge impact to the growth.

"Demand for condominiums in Edmonton is expected to remain strong over the medium term, not only because of healthy population growth but also because of shifts in the age structure of the population. Edmonton’s population is forecast to increase by an annual average rate of 1.5 per cent from 2007 to 2011. At the same time, the city’s population is aging, the result of the dominance of the baby-boomer cohort. In fact, the share of the 55–74 age cohort is projected to rise from 12 per cent of the population in 1987 to 18 per cent in 2011. As baby boomers enter their retirement years, they are expected to turn to condominiums to take advantage of maintenance-free living and enhanced security, as well as to be closer to amenities."

Anyone seeing this trend?