Best Province to Live in Canada 2024

Are you considering relocating to a new province in Canada? Look no further then New Brunswick, Canada. In the article I am going to lay out the Pros and Cons in regards to Economy, Real Estate, Employment and Education, Climate, and Lifestyle.

Factors

Economy

(Population, New Construction, Exports, Manufacturing, GDP)

Cost of Living

(Real Estate, Residential Costs, Commercial Costs, Rent Prices)

Employment & Education

(Top Industries, Salaries, and Schooling)

Climate

(Summer, Fall, Winter, Spring)

Lifestyle

Economy

Population:

New Brunswick’s population grew for the seventh consecutive

year, up by 2.7% to 812,061 as of July 1, 2022, the highest

growth rate reported in the comparable data.

Photo via gnb.ca

New Construction:

Housing starts increased by 22.2% in 2022 to 4,680 units, the

highest level since 1983.

New Brunswick’s investment in building construction slowed

during the second half of 2022 but remained elevated for the

year, increasing by 11.0% to $3.4 billion in 2022, the highest

level recorded in the comparable data.

Merchandise Exports:

Driven by higher commodity prices and strong demand, New

Brunswick’s merchandise exports grew by 26.9% to

$18.7 billion in 2022, the highest level ever reported in the

comparable data and the third-highest growth rate among the

provinces.

Manufacturing Sales:

For the second consecutive year, manufacturing sales in New

Brunswick registered double-digit growth in 2022, up by 29.1%

to $26.9 billion, the highest level of sales in the available data.

GDP:

The Department of Finance and Treasury Board projects real GDP (Gross Domestic Product) growth of 0.8 per cent in 2023.

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Cost of Living

Real Estate

In 2022, provincial home sales totaled 10,517 units, down by

20.5% from 2021. (When the housing market is down, this gives the buyer an advantage to negotiate on price, and achieve better deals)

Land costs were on average about $3,100 per acre in New Brunswick in 2022.

Photo via gnb.ca

Residential Costs

The average price for a home in New Brunswick is currently $279,500 as of May 2023.

New Brunswick has the lowest residential cost in comparison to other provinces. (See Comparison Chart below)

Photo via statista.com

Commercial Costs

The average price/SF for Office Space for sale in New Brunswick is about $126.

The vacancy rate for office space in Canada is 16.3%. (This may be a good time negotiate low prices if you need a commercial building for your business.)

Rent Prices

For a 2 bedroom apartment in New Brunswick rent is approximately on average $1,570.

The average cost of a 2 bedroom apartment in Canada is $2,018. Therefor it is reasonable to rent in New Brunswick, in comparison to other provinces across Canada.

Photo via Rentals.ca

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Employment & Education

Top Industries

Industry Breakdown

Real estate, 12.8%

Public administration, 11.9%

Manufacturing, 10.7%

Health care and social assistance, 10.3%

Construction, 7.1%

Retail, 6.3%

Educational services, 6.1%

Finance and insurance, 6%

Transportation and warehousing, 4.6%

Agriculture, forestry, fishing, and hunting, 3.8%

Salaries

Household disposable income growth is projected to slow to 3.1% in 2023.

Wage growth from 2021 to 2022 was up by 9.8%.

Fact: The average New Brunswick salary in Canada is $54,353 per year or $27.87 per hour. (As Per Statistics Canada)

Photo via gnb.ca

Schooling

Pros:

International focus:

Though English speakers outnumber French speakers, New Brunswick has a sizable francophone minority and is an officially bilingual province.

Smaller urban centers:

The province presents an urban living environment without the hustle and bustle — not to mention living costs.

Provincial Nominee Program:

NBPNP : A direct route to Canadian permanent residence, stipulates that applicants must have at least 12 months full-time (or an equal amount in part-time) paid skilled work experience in New Brunswick in the three years before the application is submitted.

Atlantic International Graduate Program:

AIGP: allows international graduates of eligible educational institutions in Atlantic Canada to submit an application for permanent residence without first having to obtain work experience.

Cost (Average):

University of New Brunswick - Average Tuition: $7,313 - $7,825 /year

Université de Moncton - Average Tuition: $6,437 - $7,642 /year

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Climate

The climate in New Brunswick is pretty cold in comparison to other southern provinces in Canada, due to the wind incoming from the Bay of Fundy. Below are the average temperatures based on the season.

Summer

Summers are not very hot, with temperatures between (15° C) and (21° C).

Fall

Fall is quite cold, with temperatures between (5° C) and (12° C).

Winter

January is the coldest month – with the average temperature around (-7.5° C) along the southeastern shore, while in the northwest, extremely low temperatures of (- 30°C) to (- 35°C) are common.

Spring

Moderately cold, with temperatures ranging between (4 ° C) to (15 ° C).

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Lifestyle

The Pros of living in New Brunswick is popular for its friendly people, beautiful nature, affordable housing market, relaxed working style and nature.

The Cons of living in New Brunswick are its extreme weather conditions, and not a large variety of employment opportunities.