Category: Uncategorized
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Only two Canadian cities saw higher rent increases than Edmonton last month
Rent prices in Canada’s larger cities are declining, while smaller markets like Edmonton are seeing increases. A report from Zumper indicates that one-bedroom rents in Edmonton fell by 2.1% to $1,400, but rose 16.7% year-over-year. Saskatoon now has the fastest-growing rents, with a 16.8% annual increase. Two-bedroom rents in Edmonton decreased by 1.8% to $1,660,…
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Edmonton Faces 8.1% Property Tax Hike
Edmonton's property tax may rise by 8.1% in 2025, part of an ongoing budget adjustment.
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Edmonton Outpaces Canada in Housing Starts
Edmonton’s population growth continues to accelerate, surpassing 2023 levels, fuelling housing demand in 2024. Despite rising prices, Edmonton’s housing remains more affordable than many Canadian cities, including Calgary.
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Will the Rate Cut Ignite Edmonton’s Housing Market?
The Bank of Canada’s rate cut is expected to boost Edmonton’s housing market gradually. Edmonton’s affordability and stable demand position it as one of Canada’s promising Real Estate markets.
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Edmonton’s real estate market is red-hot with a 38% spike in sales
Lower interest rates are boosting Edmonton’s real estate market, with October sales rising significantly compared to last year. The Greater Edmonton Area reported 2,439 residential sales, a 10.5% increase from September and a 38.5% rise from October 2023. Apartment sales surged by 43.6%, while semi-detached and row/townhouse sales increased by 38.6% and 38.0%, respectively. The…
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Edmonton Proposes 8.1% Tax Hike for 2025
Edmonton recommends an 8.1% tax increase for 2025 to address a $34M deficit. Inflation and population growth make delivering services more expensive, driving the proposed tax hike.
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Will Building Homes in Edmonton Reduce Home Prices?
Edmonton faces a municipal election amid rising housing prices, with over 100,000 new residents expected. The aggregate home price rose by 5.4%, reaching $456,300 in the third quarter of 2024.
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Power of Sale for Edmonton Homeowners and Investors
Power of Sale allows lenders to sell a property directly, avoiding court, making it faster and cost-effective compared to judicial foreclosure. The process is governed by provincial laws that balance lenders' rights with borrower protections, requiring clear notice before the sale.
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Out-of-Town Buyers Fuel Edmonton Luxury Growth
Edmonton’s luxury market saw ↑ 40% growth in sales over the first eight months of 2024. The median luxury home price in Edmonton rose to ~$1.5M, marking slight annual growth.
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Edmonton Offers Shorter Path to Homeownership
Edmonton buyers need about four years to save 20% on an average-priced home of $194,600. Edmonton remains affordable, especially for younger buyers, with many opting for townhomes or apartments.