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Home values up more than 200 per cent between 1997 and 2007 v! Q1 W7 L% g# Y
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EDMONTON - Homes in Edmonton jumped more in average price than anywhere in Canada over the past decade, says a new report by Re/max.
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2 Y$ n$ V( _; VHome 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.
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( L4 C2 t- M- e' A7 J" QA home's average price in Alberta's capital rose to $338,636 in 2007 from $111,587 a decade ago.
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/ N& R6 x" m) P0 PBooming population, limited inventory of homes and a hot economy are behind some of the tightest market conditions in the country, the report said.
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First-time homebuyers sparked the explosion in 1996-97 and have powered the market since then, Re/max said. Buyers trading up, meanwhile, have stimulated sales at the high end of the market.5 u1 C( w' C6 J7 `# v& c
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In recent years, the report suggests move-down buyers, aging baby boomers, are driving the condo market." r4 b0 n% s8 J% t
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"While 2007 was a roller-coaster year for real estate activity in Edmonton, 2008 holds more promise," the report said.! k6 w5 |) j* Y$ }; y" H
* f! [9 Q1 u1 q( q$ g% G- {It points to falling numbers of homes for sale, predicted lower interest rates and continued strength in the oilpatch.
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In 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 10:59
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发表于 2008-2-21 22:29
