Crazy B.C. housing prices help fuel 230% surge in Calgary condo presales: Data firm

It would appear priced-out British Columbians are flocking to snap up condos in Calgary, turning it into the hottest market in Canada and sparking a record influx of new residents.

In data released this week, the surge in sales is largely fuelled by record migration from B.C. and Ontario. It also caused the largest rental rate increase in Canada.

“Calgary’s return as Canada’s most active housing market is largely fuelled by individuals from other provinces, including B.C.,” said Zonda Urban’s Jackson Cornelius in a release.

“Several factors are at play. The city experienced record migration from other provinces, resulting in an imbalance of supply and demand — especially in the rental market — and downtown Calgary remains more affordable than other major centres.”