 鲜花( 0)  鸡蛋( 0)
|
Home values up more than 200 per cent between 1997 and 2007( [6 s- P( ]6 k* u
. G3 }6 D5 D7 ^1 X( M& u* p# ]5 ZEDMONTON - Homes in Edmonton jumped more in average price than anywhere in Canada over the past decade, says a new report by Re/max.: ]; }1 t/ S; o! i% j5 M
0 u/ a1 h$ [2 N
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.; A0 x/ c: f7 i+ V3 r
' J, e4 ~) ~' r( J9 o* h
A home's average price in Alberta's capital rose to $338,636 in 2007 from $111,587 a decade ago.
; z' k* T- s. q6 x% q! [7 d
& D9 ~& { m7 E. u5 mBooming population, limited inventory of homes and a hot economy are behind some of the tightest market conditions in the country, the report said.( ^) d8 W2 B5 X) O
8 k: m6 z5 Z$ j+ J' r
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.
. a) E/ Y, k; B: T' ?0 G/ [0 k8 `- v* K" F) x
In recent years, the report suggests move-down buyers, aging baby boomers, are driving the condo market.
, A2 i% \6 \8 T
/ [* O @7 H1 j! q, R( u% ?"While 2007 was a roller-coaster year for real estate activity in Edmonton, 2008 holds more promise," the report said.
0 J; U: t$ g# q# U6 h
2 y+ C0 p1 i& `8 y- O$ q5 EIt points to falling numbers of homes for sale, predicted lower interest rates and continued strength in the oilpatch.
5 o) h) c# W& R' R
- C* X1 S$ {' p' {In Calgary, housing values nearly tripled, climbing to $414,066 from $143,305 in the same period. |
|