 鲜花( 0)  鸡蛋( 0)
|
Home values up more than 200 per cent between 1997 and 2007
9 e% _& C1 K) T# C: U; N: L6 q: K$ w2 ?; q6 C
EDMONTON - Homes in Edmonton jumped more in average price than anywhere in Canada over the past decade, says a new report by Re/max.) ?; j7 E" r1 j5 u a8 O) v1 j' x6 J" b
/ B" |: p! p" x2 h: yHome 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.1 ?* N4 B# ], u8 [% f
) j. p7 {/ q3 v$ b9 d( zA home's average price in Alberta's capital rose to $338,636 in 2007 from $111,587 a decade ago.
1 E: Q1 w) O6 n# Z) M' k4 [, \" N
# J, `' D* h1 n0 k) W9 V( FBooming population, limited inventory of homes and a hot economy are behind some of the tightest market conditions in the country, the report said., E: H# w% S! ]9 i, k, W8 N u; e5 `+ O* Y
( z# [5 k0 j; B, c! @ p) jFirst-time homebuyers sparked the explosion in 1996-97 and have powered the market since then, Re/max said. Buyers trading up, meanwhile, have stimulated sales at the high end of the market.
& i% J4 n4 w/ |( ?7 H/ y/ q6 C# B' F% a m
In recent years, the report suggests move-down buyers, aging baby boomers, are driving the condo market.
/ L/ r" p9 a. D y4 M! }& N- ~4 p H7 ]
"While 2007 was a roller-coaster year for real estate activity in Edmonton, 2008 holds more promise," the report said.* V& E: q$ v# e$ i. ~
. u, E6 N$ k3 H* I: R- qIt points to falling numbers of homes for sale, predicted lower interest rates and continued strength in the oilpatch.& ?# d/ @/ [! e" j% {5 _
, a' b* u8 L6 i" H! ]% S, y
In Calgary, housing values nearly tripled, climbing to $414,066 from $143,305 in the same period. |
|