Michelle Schiewe, seen here in the mountains near Revelstoke, B.C., says she’s being forced to leave the small resort city for Saskatchewan due to the rising cost of living.Schiewe’s story illustrates a growing trend in tourist towns across Canada., adding immigration was behind the climbing figures.
More than half of the real estate representatives surveyed reported lower inventory than last year in their respective regions, and 65 per cent have seen inventory reduced from pre-pandemic levels. That makes the town unique from similar resort towns and cities, which are often close to provincial and national parks but not located directly within them like Banff.
DiManno says there has been some success in adding to the town’s available housing stock while keeping those new units affordable. The report also found the number of residents in core housing need and extreme housing need doubled between 2011 and 2016, from 200 to 405. Banff Avenue will be closed to motorized traffic, other than Roam buses, from May 15 – Oct. 19 to create a pedestrian zone.But maintaining that housing has become a challenge for employers as their own costs — including property taxes and day-to-day goods, like food — rise higher, according to the Canadian Federation of Independent Business .