By Geoff Smith

Lethbridge ranked 5th in Alberta for real estate investment

Oct 25, 2017 | 11:40 AM

A real estate research firm says the Lethbridge market didn’t suffer too badly during the downturn, and is poised for smooth growth.

The Real Estate Investment Network says Lethbridge will be the fifth best community for home buyers and investors in Alberta over the next five years, ranking only behind Edmonton, Calgary, Leduc and Fort Saskatchewan.

“Because of its uncoupling from the oil and gas industry, (Lethbridge) has so much more going for it. That’ll protect it for any further down, and also set it up for a smoother upward trend,” said Don Campbell, REIN’s senior analyst.

The report also cites employment numbers, median family income, population growth and median age. While the vacancy rate for rentals is high, average monthly rents are stable.

Campbell said they consider housing starts, but they’re a “lagging” indicator, while they look at trends that will predict where the market will be in the next year and a half.

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“We’re starting to see some growth occurring in most of the factors that we looked at in Lethbridge, which means the market should start to get some decent legs behind it in about 18 months,” he explained.

He added the Lethbridge market is still in a “technical slump” but is starting to emerge from it.

Okotoks, Red Deer, Medicine Hat, Airdrie, and Lacombe round out the top ten. Campbell said a community like Okotoks experiences the highs and lows of the Calgary market, but Lethbridge is insulated from that.

(Story from Lethbridge News Now)