Category: Uncategorized
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Will Housing Market Ease for First-Time Buyers in H2?
High rates and affordability challenges persist, but recent data shows potential better times ahead for first-time buyers.25% of Canadians are saving to buy a home, with 35% being younger millennials and Gen Z.
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Blatchford Development Boosts Edmonton Housing
The Blatchford development is accelerating construction, enhancing housing availability in Edmonton. Edmonton's housing market shows a seasonal slowdown, yet remains stronger than last year.
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It’s not fair’: Edmonton’s mayor asks for residents’ help to get province to pay $80M in taxes owed
Edmonton's mayor has initiated the 'Fair Compensation Project' to advocate for better funding from the Alberta government, highlighting that the province owes $80 million in property taxes since 2019. The campaign aims to address the unfair financial burden on local taxpayers, as provincial buildings only pay half of the municipal service costs. The mayor emphasizes…
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Rate Cuts Can’t Contain It: 1% Rise in Home Prices
Canadian home prices are expected to rise by around 1% in 2024 despite rate cuts. Home prices are forecast to grow modestly at 2.8% in 2025 and 3% in 2026.
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Late-Q3 Bank Rate Cut Benefits Borrowers Significantly
In September 2024, Canada’s central bank cut the benchmark prime rate, easing borrowing costs for consumers. The rate cut directly benefits floating-rate borrowers, with significant reductions for insured variable mortgages.
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Edmonton Hottest Condo Market Ever: Sales Jump 37%
Edmonton experienced a 37% increase in condo sales in 2024, making it the best year in five years. Affordability remains a key driver, with average condo prices rising by 4% to $200,951.
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Edmonton’s strong housing sales could create inventory woes
Edmonton's housing market is experiencing strong sales but facing inventory challenges, leading to rising prices. In September, residential sales dropped 12.6% from August but were still 10% higher than the previous year. The average price for homes increased to $440,366, up 1.2% from August and 11.7% from last year. Migration is driving demand, while inventory…
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Alberta Municipalities Await Tax Grant Payments
Alberta's Grants in Place of Taxes (GIPOT) program compensates municipalities for lost property tax revenue from provincial properties. Municipal leaders express concerns over the financial burden from reduced GIPOT payments impacting local budgets.
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Loans vs. Mortgages: Which Fits Your Needs?
Purpose of Financing: – Loans: Various needs, like cars or education – Mortgages: Specifically for Real Estate or home equityBorrowing Amounts & Terms: – Loans: $100s to $1000s; term varies – Mortgages: $1000s to Millions; up to 30 years
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Edmonton: Record-Breaking Heatwave on the Horizon
Edmonton is set to surpass its 2023 housing start record and potentially break the 2015 all-time high. By Mid-Q3 2024, the city had 11,924 housing starts, approaching the 2015 record of 13,311 starts.