According to a current analysis, Edmonton has been given a top ranking amidst Alberta housing markets, with a likely increase in the coming five years. The Real Estate Investment Network (REIN) highlighted that the city has helped calm down an economic storm even better than other centres in the area, and it’s amongst the first badge of cities to leave the slump. The varied economy of the city is known as the strong points, with an increase in the economy which will probably beat the average for the country this year.
The report indicated that the benchmark selling figure for residential listings in Edmonton took a slight increase. “Condo prices saw the largest year-to-year increase, mostly due to a large number of new (and thus more expensive) units built and sold.” Even though the prices were a bit less than the similar timeframe last year, Calgary came out in the second position. The report noted “[W]hen we look at the overall trend, we see prices took a strong move upwards in the first three quarters of 2017, indicating some confidence moving back in the housing market,” The values in real estate peaked a “longer-term” trough in the market, as the trend showed.
Third place was bagged by Leduc, with Edmonton International Airport experiencing a sharp increase, which assisted in giving Leduc residents jobs. The figures for REIN showed that the benchmark selling price for residential properties last August was $364,272, this increased by 10.4% up more than last year.
The senior analyst of REIN, Don Campbell said; “There are interesting times ahead for Alberta as a province. However, within these interesting times, trends are beginning to emerge that are pointing to some regions of the province showing signs of stabilizing while others are slowly beginning to enter a growth curve.”