 鲜花( 0)  鸡蛋( 0)
|
Home values up more than 200 per cent between 1997 and 2007# r( {( C8 W( S$ [ b3 v/ H) R, r
0 t2 ?4 t, ^2 A# MEDMONTON - Homes in Edmonton jumped more in average price than anywhere in Canada over the past decade, says a new report by Re/max." h2 R( ]2 F: G/ P$ ?5 O8 D: C
8 S0 t; `: }4 B/ M. 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.
" h: Z+ ]# S1 l. p {! |) Z/ y$ t9 n; w% N! @4 ?! i+ g
A home's average price in Alberta's capital rose to $338,636 in 2007 from $111,587 a decade ago.
1 g4 t( \% R; y6 I
) ?% e; I, T% r0 s' TBooming population, limited inventory of homes and a hot economy are behind some of the tightest market conditions in the country, the report said.
7 h v) m- W; T: Q# R* ^( G4 m! _+ I2 j* Q+ O3 Y
First-time homebuyers sparked the explosion in 1996-97 and have powered the market since then, Re/max said. Buyers trading up, meanwhile, have stimulated sales at the high end of the market.5 x* E) L- W& X8 u+ e1 p# B; U, l
3 _4 x. }; H$ b8 W' ]
In recent years, the report suggests move-down buyers, aging baby boomers, are driving the condo market.1 N, D5 L( m6 H4 ^3 K8 W; |! g
2 c8 K& g9 P' S# r& q, j/ r"While 2007 was a roller-coaster year for real estate activity in Edmonton, 2008 holds more promise," the report said.0 e: I& i4 y7 o3 D+ W6 H
6 _# V& ~- a" c" J8 M
It points to falling numbers of homes for sale, predicted lower interest rates and continued strength in the oilpatch.
4 I |) t& {: M3 O. t" ]5 L; R6 i7 b3 X+ e# P
In Calgary, housing values nearly tripled, climbing to $414,066 from $143,305 in the same period. |
|