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Home values up more than 200 per cent between 1997 and 2007
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EDMONTON - Homes in Edmonton jumped more in average price than anywhere in Canada over the past decade, says a new report by Re/max.
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5 K* ]& u$ x4 L2 eHome 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.; c. W9 B0 M) S; [$ J* D2 K8 v
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A home's average price in Alberta's capital rose to $338,636 in 2007 from $111,587 a decade ago." e3 b* Z$ e( j
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Booming population, limited inventory of homes and a hot economy are behind some of the tightest market conditions in the country, the report said.
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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.; i. e( r5 P: s. o1 w
( N: g; V! F' ? @In recent years, the report suggests move-down buyers, aging baby boomers, are driving the condo market.- g% U- E, H; Z
' W% H6 M& a1 w"While 2007 was a roller-coaster year for real estate activity in Edmonton, 2008 holds more promise," the report said.
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: g2 X) E& @& C6 P, sIt points to falling numbers of homes for sale, predicted lower interest rates and continued strength in the oilpatch.' K% R# u( Q) k" i9 ]4 D) C
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In Calgary, housing values nearly tripled, climbing to $414,066 from $143,305 in the same period. |
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发表于 2008-2-21 22:29
