鲜花( 0) 鸡蛋( 0)
|
Home values up more than 200 per cent between 1997 and 2007
* _- Z$ Q# W* y; L% H% {, }5 v, m4 g7 k% ~
EDMONTON - Homes in Edmonton jumped more in average price than anywhere in Canada over the past decade, says a new report by Re/max.! K( m. ]: C" p8 |4 ~, {% u, c
1 ^9 Z R! ~9 |) _7 LHome 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.
5 K" {3 v# }$ G9 s) h1 b5 m& g- U' z5 ^ E
A home's average price in Alberta's capital rose to $338,636 in 2007 from $111,587 a decade ago./ N; N3 l* z& J7 K4 b& ?) o) a! ?
: @9 c' R# H. Q$ GBooming population, limited inventory of homes and a hot economy are behind some of the tightest market conditions in the country, the report said.
4 ]2 O4 |1 v3 R$ U+ h9 K* I U3 j) a+ H! v; R2 ~6 k
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.
, Y F) P* I% Y$ b8 S) e0 I
. l! k; l) Y5 Z- w- E b; Z' X4 \) kIn recent years, the report suggests move-down buyers, aging baby boomers, are driving the condo market.
4 y) c& z& C+ j# E) `1 j& c, Q {! g( b+ B4 }$ R3 Q1 m o' `; \3 N" X
"While 2007 was a roller-coaster year for real estate activity in Edmonton, 2008 holds more promise," the report said.
2 A9 N. k2 W$ C" D6 h
) y# P8 t* h* g6 _9 s7 E8 c, NIt points to falling numbers of homes for sale, predicted lower interest rates and continued strength in the oilpatch." U5 N% ^4 W6 `9 Z3 _3 [ _6 T9 z
" j3 H$ z( j4 M2 A
In Calgary, housing values nearly tripled, climbing to $414,066 from $143,305 in the same period. |
|