 鲜花( 0)  鸡蛋( 0)
|
Home values up more than 200 per cent between 1997 and 20078 Y0 V' m" \6 w7 K1 Y. [. V
- w# f& W1 Q S0 G: y/ xEDMONTON - Homes in Edmonton jumped more in average price than anywhere in Canada over the past decade, says a new report by Re/max.# {1 g6 @" ^* U3 }$ |% H9 y
" \6 x' A# C: s5 Q6 |Home values soared 203 per cent between 1997 and 2007 - "making Edmonton the best return on investment in the country at an annually compounded rate of 11.7 per cent," said the report.
- \) G9 A+ W, `3 B# ]
. {; j# y# @0 H( g; x4 WA home's average price in Alberta's capital rose to $338,636 in 2007 from $111,587 a decade ago.
* b0 d1 O+ E7 m' P$ U( H; T$ ]( m3 x. \4 ^6 e
Booming population, limited inventory of homes and a hot economy are behind some of the tightest market conditions in the country, the report said.1 I# W( t$ O) V& o F( E4 @; t: X5 `
- Z( {3 e% G+ d6 e3 ]First-time homebuyers sparked the explosion in 1996-97 and have powered the market since then, Re/max said. Buyers trading up, meanwhile, have stimulated sales at the high end of the market.
5 W% _8 w1 ~, Z) c+ N; x
5 w" l8 O/ } Q! eIn recent years, the report suggests move-down buyers, aging baby boomers, are driving the condo market. W: J' i% x( Q$ i U: A
* Q! E- u1 k) L7 g& b
"While 2007 was a roller-coaster year for real estate activity in Edmonton, 2008 holds more promise," the report said.6 g# L* ^, A# P/ y8 ^
) U" ^% A9 q8 e5 b9 ]
It points to falling numbers of homes for sale, predicted lower interest rates and continued strength in the oilpatch.
! R8 [' }6 E: {; s, q% ~" d( O
% U6 |0 K/ R/ S9 F* m4 wIn Calgary, housing values nearly tripled, climbing to $414,066 from $143,305 in the same period. |
|