6. THE FUTURE APARTMENT MARKET

The demand for multiple accommodation is likely to remain high for at least the next ten years, again because of the population structure. In 1966 there were 91,367 persons between the ages of 10 and 19; they represented 18.4% of the Metropolitan population. Over the next decade the ten-year-olds will become 20 years old, and the 19-year-olds will become 29 years old, and again it is out of this group that a substantial part of the multiple accommodation market will be provided. It is interesting to note that in this respect we are just a little more favorably situated than both Edmonton and Calgary. Edmonton has about 15.6% of its population in these age groups, and Calgary about 14.6%.

At the other end of the age group scale, the same is true; 8% of our population is between 55 and 64 years old, a group which seeks apartment accommodation, and the members of which will be in the apartment market for the next ten years. In Edmonton only 5.5% of the population is in this group, and in Calgary 5.7%. And the group which is in the phase behind, that is the 45 to 54 year olds, which during the next ten years will be moving into the apartment dwelling category comprises 11.4% of Metro's population. In Edmonton the same group comprises 9.15%, and in Calgary the figure is exactly the same as Edmonton's.

The two main groups of our population which provide the multiple accommodation market the pre-children and post-children groups represent large proportions of the Metropolitan population, larger proportions than in either Edmonton or Calgary; and in absolute terms the numbers are of course even greater because Metro's population is greater than either of the two Alberta cities. these facts indicate a strong existing and potential market for multiple dwellings for the foreseeable future.