 鲜花( 0)  鸡蛋( 0)
|
Home values up more than 200 per cent between 1997 and 2007; v# F% |* i4 n* Y
( w# v9 \2 m+ c, S: @9 g5 ?1 o
EDMONTON - Homes in Edmonton jumped more in average price than anywhere in Canada over the past decade, says a new report by Re/max.
) S7 q- z5 _% i d+ D" n3 ?+ Y6 A' M9 \, c7 o8 V
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./ M' g0 y4 E# U2 G
+ r3 a; ~5 Z' {+ |! y$ W
A home's average price in Alberta's capital rose to $338,636 in 2007 from $111,587 a decade ago.
/ I1 Q+ d' o" ~: o. M5 m& Q) L6 d# _* A$ r! N: 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.
; \, N; t5 u+ y
* y1 g }, y5 l: h+ |0 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.
* C# C5 |$ M6 m" E I- X( `7 V3 w& K! M% \' ]2 Q
In recent years, the report suggests move-down buyers, aging baby boomers, are driving the condo market.
& M1 h( X) b" H3 t# P( f/ Q/ d
1 a# [6 Z K p7 x. {; v"While 2007 was a roller-coaster year for real estate activity in Edmonton, 2008 holds more promise," the report said.3 r/ A5 |3 ?0 G! b# V) t
1 H! x- w! o+ _$ m& n0 x
It points to falling numbers of homes for sale, predicted lower interest rates and continued strength in the oilpatch.
, x) a4 p* T) R1 h( q6 D5 H# G. U2 _8 A& \ V
In Calgary, housing values nearly tripled, climbing to $414,066 from $143,305 in the same period. |
|