 鲜花( 0)  鸡蛋( 0)
|
Home values up more than 200 per cent between 1997 and 2007$ _3 a! ^* V9 E' M0 B
. G9 v4 \9 _! T
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.
! U1 @, o& i: E& `; y* G
" 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: }
$ C( z0 \7 Q3 c% ~4 l
Booming population, limited inventory of homes and a hot economy are behind some of the tightest market conditions in the country, the report said.
% a% a& ~/ S8 V* g# R/ U
* ]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 \
4 }# p. _* _. b( S W' o6 h' A
"While 2007 was a roller-coaster year for real estate activity in Edmonton, 2008 holds more promise," the report said.
6 m) A7 E2 N& i3 V" k/ W% w) s& W: j3 c9 t
It points to falling numbers of homes for sale, predicted lower interest rates and continued strength in the oilpatch.
: k+ I3 t3 x( x8 E7 O x( P3 [- }& T1 w: U6 x1 @" S1 k0 r* H' {+ }
In Calgary, housing values nearly tripled, climbing to $414,066 from $143,305 in the same period. |
|