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Home values up more than 200 per cent between 1997 and 2007! A- F2 \* N5 I
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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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' l. z* c; W5 @+ DHome 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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' z' Q) e7 z9 v& w1 G0 gA home's average price in Alberta's capital rose to $338,636 in 2007 from $111,587 a decade ago.: l0 ^* i" }! y7 A+ }& B
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Booming population, limited inventory of homes and a hot economy are behind some of the tightest market conditions in the country, the report said.
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2 ?3 [# W- P+ M4 c7 X4 c r( FFirst-time homebuyers sparked the explosion in 1996-97 and have powered the market since then, Re/max said. Buyers trading up, meanwhile, have stimulated sales at the high end of the market.$ ]# U; Q7 g; u
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In recent years, the report suggests move-down buyers, aging baby boomers, are driving the condo market.' ~3 b- Q! S% n1 c
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"While 2007 was a roller-coaster year for real estate activity in Edmonton, 2008 holds more promise," the report said.# P4 Q \" Q3 n8 h$ r
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It points to falling numbers of homes for sale, predicted lower interest rates and continued strength in the oilpatch.
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( l' C: n, t# Z+ ~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