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Home values up more than 200 per cent between 1997 and 2007* ~$ ~# Y9 p3 e R3 D
7 b1 \5 C% T* q8 x9 NEDMONTON - Homes in Edmonton jumped more in average price than anywhere in Canada over the past decade, says a new report by Re/max.0 T" |; k4 y ^. B
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Home 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./ s! ]0 r/ B5 T' {
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A home's average price in Alberta's capital rose to $338,636 in 2007 from $111,587 a decade ago.: |9 O; {. c, H+ A2 I
3 d) W$ a' |7 D, R1 y0 V5 VBooming population, limited inventory of homes and a hot economy are behind some of the tightest market conditions in the country, the report said.7 L Q4 P! a, H
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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.
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( y2 @ f& i' v; IIn recent years, the report suggests move-down buyers, aging baby boomers, are driving the condo market.5 d8 Q G; o; _% h( p7 ?5 P; H, f
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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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& f2 F1 F+ V+ c5 G3 h0 |- g2 |It points to falling numbers of homes for sale, predicted lower interest rates and continued strength in the oilpatch.
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( R% y8 c; z dIn 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
