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Alberta to lead country in renovation spending growth 7.9% hike in 2012 #yeg #yegre



Alberta is forecast to lead the country in year-over-year growth in renovation spending this year and next year, according to a report by the Altus Group.

The report said renovation spending in the province will rise by 7.9 per cent this year from $6.4 billion in 2011. The annual growth in 2011 was only 0.2 per cent from 2010.

The report also said Alberta’s annual growth in renovation spending will be 5.1 per cent in 2013.

“Strong economic conditions in the Prairie provinces will contribute to above average growth in renovation spending,” said Altus Group. “Alberta in particular will lead the way, after a stagnant 2011.”

Throughout Canada, the report is forecasting annual growth of 4.1 per cent this year from $63.2 billion in 2011 followed by 3.7 per cent growth in 2013. This is after 2.6 per cent year-over-year growth in 2011.
Read more: http://www.calgaryherald.com/Alberta+lead+country+renovation+spending+growth/6805114/story.html#ixzz1yGiAkvls

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