 鲜花( 0)  鸡蛋( 0)
|
Home values up more than 200 per cent between 1997 and 2007! j$ m. I" @& ]1 {, u u# W3 W$ I# P
9 b8 g# U$ O$ [5 a5 p
EDMONTON - Homes in Edmonton jumped more in average price than anywhere in Canada over the past decade, says a new report by Re/max.
' K; p2 }' _1 S4 C2 f4 O% I, K. [, R3 E/ h" b; q3 O6 M
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.
% Z4 a* E7 U7 b$ u! a7 H
& B" d3 @6 f2 D# n- P, ?4 a/ l4 CA home's average price in Alberta's capital rose to $338,636 in 2007 from $111,587 a decade ago.6 W8 g) [/ U# i
! Z- b. [2 ^! @1 j8 y
Booming population, limited inventory of homes and a hot economy are behind some of the tightest market conditions in the country, the report said.: i8 u, \2 o" x R7 t& z
) a8 `0 |' L, RFirst-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.
e2 L0 Z8 z) Q
$ D3 P1 o" T8 j* k6 XIn recent years, the report suggests move-down buyers, aging baby boomers, are driving the condo market.
4 i; q5 L4 t, K
8 n( e+ P6 F2 k& G9 s, D"While 2007 was a roller-coaster year for real estate activity in Edmonton, 2008 holds more promise," the report said.( `' @% @- H* w( g/ q9 `, l& g
; G) V6 p" m% w, o$ IIt points to falling numbers of homes for sale, predicted lower interest rates and continued strength in the oilpatch.1 A( s8 N/ u# l
3 g8 {3 k: I# ?# d8 wIn Calgary, housing values nearly tripled, climbing to $414,066 from $143,305 in the same period. |
|