 鲜花( 0)  鸡蛋( 0)
|
Home values up more than 200 per cent between 1997 and 2007
2 J* r8 r P$ i3 v+ Y# w# e6 d' q2 ?; C% m; R; U/ N! J
EDMONTON - Homes in Edmonton jumped more in average price than anywhere in Canada over the past decade, says a new report by Re/max.
/ V) B' l' V/ X- s
1 {) N3 p3 ^) RHome 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.; z, |$ Y, w2 W# H- C" {( T
2 k) y" R$ M2 P# [9 O2 @5 O
A home's average price in Alberta's capital rose to $338,636 in 2007 from $111,587 a decade ago.
% e7 A t! @) E3 ^, T0 u9 O6 |7 Z2 N1 ]0 O# p! }
Booming population, limited inventory of homes and a hot economy are behind some of the tightest market conditions in the country, the report said.5 P& P7 @. r. L: g3 ~1 Y
% F% B1 Z8 m' T7 p8 i9 x; U T8 W
First-time homebuyers sparked the explosion in 1996-97 and have powered the market since then, Re/max said. Buyers trading up, meanwhile, have stimulated sales at the high end of the market.! z7 p+ k. l$ w
+ d4 y) i' B, B! x5 b! J/ {6 N
In recent years, the report suggests move-down buyers, aging baby boomers, are driving the condo market.
6 |3 X" V4 e) B5 d* g
5 y. K+ r6 n$ N5 p1 I3 @"While 2007 was a roller-coaster year for real estate activity in Edmonton, 2008 holds more promise," the report said.7 V8 B8 C6 A/ c$ j0 [- j
8 { ^9 P. X2 ^3 o, K% hIt points to falling numbers of homes for sale, predicted lower interest rates and continued strength in the oilpatch.$ t2 o: ~4 x H7 Y$ j
6 k& m. C0 d5 _0 m$ {1 yIn Calgary, housing values nearly tripled, climbing to $414,066 from $143,305 in the same period. |
|