An aerial view of Downtown Lethbridge. (Lethbridge News Now)

By David Opinko

Lethbridge named one of Western Canada’s best cities to invest in property

Nov 13, 2019 | 3:17 PM

LETHBRIDGE, AB – Western Investor has compiled its annual selection of five cities in Western Canada that are great opportunities for property investments.

Lethbridge was the only Albertan community to be included and ranked fourth overall.

“Despite an Alberta slowdown, Lethbridge’s economy has fired on all cylinders over the past two years, expanding by 5.1 per cent in 2018, though economic growth will moderate to a still-healthy 2.6 per cent in 2019 and 2.7 per cent in 2020, according to the Conference Board of Canada,” reads the media release from Western Investor.

They are forecasting 2,700 jobs being created in the city this year and next, and believe this will continue going forward.

“Lethbridge’s performance is attributed to a diversified economy that is underpinned by agriculture, not oil and gas extraction. Education and health care are two major sectors accounting for nearly 20 per cent of GDP.”

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Western Investor says continued growth at Lethbridge College and the University of Lethbridge are significant factors, as are Lethbridge’s healthcare facilities like Chinook Regional Hospital, the Lethbridge Health Unit, and the St. Michael’s Health Centre.

Other signs of growth include this year’s twinning of University Drive, the expected development of a new fire station in 2020, and a $700,000 investment into renovations for the Lethbridge Airport.

The city is expected to post $2.2-billion in retail sales in 2019, which is up 3.6% from 2018. Total housing starts will increase by 10% to 604 units this year.

The other cities on Western Investor’s list include Kelowna, B.C. at the top spot, followed by Prince George, B.C., Chilliwack, B.C., and Moose Jaw, Saskatchewan at fifth place.