Category: Uncategorized
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New year, new taxes for Albertans
As of January 1, 2025, Alberta has implemented a new tax on vaping products, set at $1.12 per 2 mL for the first 10 mL, and $1.12 per 10 mL for volumes above that. This tax aims to discourage vaping, particularly among youth. The federal government will collect and return the tax to the province.…
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Edmonton mails out 2025 property assessment notices ahead of tax season
Edmonton's Virginia Park neighbourhood has experienced a significant decrease in property values, contrasting with a general rise in residential tax assessments across the city. While some residents express optimism, others, like Ana, are concerned about increasing property taxes. Central McDougall is seeing the largest spike at nearly 17%. The city notes a decline in non-residential…
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Down Payment Tips for Home Buyers
Down payments are a crucial part of home buying success in Canada, beyond just mortgage rates.The minimum down payment in Canada depends on the home’s price and your province of purchase.
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Relocating to a New City: 10 Essential Tips to Consider
1. Create a Moving Budget 2. Take Inventory of Your Belongings 3. Pack Efficiently 4. Plan for Moving Day Essentials
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Things Homeowners Should Check in Winter
Protect Pipes: Insulate exposed pipes to prevent freezing and bursting during cold weather. Seal Air Leaks: Check windows, doors, and outlets for gaps to save on heating costs.
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Edmonton is seeing WAY more detached home sales in these areas
New data indicates that detached homes in Edmonton are in high demand, particularly near Anthony Henday Drive and in North Central Edmonton. In December 2024, the areas with the most sales included Anthony Henday (147 homes sold, $567,000 median price) and North Central (109 homes sold, $468,000 median price). Overall, 1,428 residential sales were reported…
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Alberta Cuts Lowest Income Tax to 8%
Alberta plans to reduce its lowest income tax bracket from 10% to 8%, benefiting families significantly. Canada Pension Plan and Employment Insurance contributions will increase, costing workers up to $403 annually.
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Alberta Leads Canada in Housing Starts With 35% Growth
Alberta recorded 42,954 starts from January-November 2024, leading Canada with the highest per capita housing starts.Calgary saw 22,652 starts (+25%), Edmonton 16,939 (+48%), and Red Deer nearly doubled to 342 units (+90%).9,903 apartment starts in the first half of 2024 marked the highest in Alberta’s history since 1977.
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Reduced Rent Inflation Expected in Canada
Rent inflation is expected to slow with reduced immigration and weaker population growth. Immigration targets reduced by 20%, affecting temporary residents who are primary renters.
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Low inventory is heating up Edmonton’s real estate market
Low inventory is contributing to a sustained seller’s market in Edmonton, with December sales showing a 17.2% increase year-over-year despite a typical seasonal slowdown. A total of 1,428 residential sales were reported, with apartment prices rising 19.8% and semi-detached homes up 12.3%. New listings decreased by 33.3% from November, leading to a 22.5% drop in…