The average sale price of houses in Nanaimo for 2011 was approximately $350,000. A recent surge of higher-density real estate development, centred in the Old City/Downtown area, as well as construction of a city-funded waterfront conference centre, has proven controversial. Proponents of these developments argue that they will bolster the city's economy, while critics worry that they will block waterfront views and increase traffic congestion. Concerns have also been raised about the waterfront conference centre's construction running over its proposed budget. Nanaimo has also been experiencing job growth in the technology sector.