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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./ X) m/ ]4 {1 }+ S' K% }7 R
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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.5 b b; Y- K( c; ^5 t; [ S$ Z. u
( ~, i! d7 y+ Q( E7 R, [A home's average price in Alberta's capital rose to $338,636 in 2007 from $111,587 a decade ago.( y1 @/ i/ r7 d4 E1 i3 B8 u
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Booming population, limited inventory of homes and a hot economy are behind some of the tightest market conditions in the country, the report said.
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, V" T' V/ d! w$ d' a$ G; AFirst-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.4 W8 d n: ^4 B1 m9 }
& l; P- |" N4 e% mIn recent years, the report suggests move-down buyers, aging baby boomers, are driving the condo market.. U3 q: E! {( Q4 N: e; r4 V
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"While 2007 was a roller-coaster year for real estate activity in Edmonton, 2008 holds more promise," the report said.$ }/ m) o, O& l0 O; `- H/ Z$ |
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It points to falling numbers of homes for sale, predicted lower interest rates and continued strength in the oilpatch.! k+ y0 Z. `0 N% D- @2 u g
7 g- l6 j& t' I$ r+ ~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 10:59
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发表于 2008-2-21 22:29
