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Home values up more than 200 per cent between 1997 and 2007$ _3 a! ^* V9 E' M0 B
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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.3 Y; u2 F. p- y2 Z
' Z1 Y7 r" u' P( M* 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.
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" J( c) a( D- k- ]A home's average price in Alberta's capital rose to $338,636 in 2007 from $111,587 a decade ago.: o2 _ U d: }
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Booming population, limited inventory of homes and a hot economy are behind some of the tightest market conditions in the country, the report said.
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* ]2 E. ?$ q0 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.2 `9 R( {; s4 ?) X& u( s
% t% ~* I7 t! m! P' I* S tIn recent years, the report suggests move-down buyers, aging baby boomers, are driving the condo market.$ x# e) \# Z; L' s8 \
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"While 2007 was a roller-coaster year for real estate activity in Edmonton, 2008 holds more promise," the report said.
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It points to falling numbers of homes for sale, predicted lower interest rates and continued strength in the oilpatch.
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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 10:59
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发表于 2008-2-21 22:29
