Edmonton leads Canada in housing-price jump

check

Home values up more than 200 per cent between 1997 and 2007

EDMONTON - Homes in Edmonton jumped more in average price than anywhere in Canada over the past decade, says a new report by Re/max.
/ c- @$ c0 S" L! P: |5 Y
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.
8 B7 p* ~. M7 v
A home's average price in Alberta's capital rose to $338,636 in 2007 from $111,587 a decade ago.

Booming population, limited inventory of homes and a hot economy are behind some of the tightest market conditions in the country, the report said.

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.
3 W7 W- s( A0 G0 ~# l
$ H2 C: B* H) ^/ AIn recent years, the report suggests move-down buyers, aging baby boomers, are driving the condo market.
1 K: E3 K# k% l+ }+ ]  V  v7 X
/ r% z6 q% A* o8 o"While 2007 was a roller-coaster year for real estate activity in Edmonton, 2008 holds more promise," the report said.
3 R( i1 a- N& p/ V1 z/ M1 t
5 {6 h6 D% \) o7 M0 Z5 I1 _It points to falling numbers of homes for sale, predicted lower interest rates and continued strength in the oilpatch.

- F  T7 ~8 V: `1 l1 s9 FIn Calgary, housing values nearly tripled, climbing to $414,066 from $143,305 in the same period.

Eunice.kk

老杨

您这则新闻不是中文的，所以转移到英文栏目。