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Home values up more than 200 per cent between 1997 and 20071 Q' ], w2 {8 |$ j* t* d
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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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# u2 m6 I% o, yHome 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.; U' _4 V- Y( b' J* h0 Y
7 y9 O. Q( n. s6 C( HA home's average price in Alberta's capital rose to $338,636 in 2007 from $111,587 a decade ago.) L7 G8 ^- j$ ?6 Q8 @
S2 h. Z7 o' o/ p0 P2 S4 ZBooming population, limited inventory of homes and a hot economy are behind some of the tightest market conditions in the country, the report said.& Z2 o: S% Q- w- v: N& N8 p
) J% m! P, r1 f3 Y* e' G+ WFirst-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.; d; i, j V& ~' S/ x' w
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In recent years, the report suggests move-down buyers, aging baby boomers, are driving the condo market.
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4 m& M$ z! Q* @ I2 w2 _"While 2007 was a roller-coaster year for real estate activity in Edmonton, 2008 holds more promise," the report said.! a& F" } h4 W+ ]4 d
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It points to falling numbers of homes for sale, predicted lower interest rates and continued strength in the oilpatch.0 t( C# n( y. X" W
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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
