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Home values up more than 200 per cent between 1997 and 20073 }" w w! q7 y% [
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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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8 v& d& @ ?7 G+ f& AHome 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.9 x, F3 r. D- k
5 E4 |! [( ]. V3 @3 X( kA home's average price in Alberta's capital rose to $338,636 in 2007 from $111,587 a decade ago., C9 \8 ?9 t5 }0 g
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Booming population, limited inventory of homes and a hot economy are behind some of the tightest market conditions in the country, the report said.
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2 a# W5 m9 v% e$ CFirst-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.
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In recent years, the report suggests move-down buyers, aging baby boomers, are driving the condo market.5 [1 G+ u$ ~# p1 e* K" s
( x; ~ l3 A4 p# p: d+ @7 T3 m"While 2007 was a roller-coaster year for real estate activity in Edmonton, 2008 holds more promise," the report said.
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/ ~; y' i S' Q7 u3 n! l7 a" Y pIt points to falling numbers of homes for sale, predicted lower interest rates and continued strength in the oilpatch.
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- k7 i/ @. g- g( N& _" UIn 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
