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Canadian • Calgary and Edmonton displace Toronto and Vancouver as top
Calgary and Edmonton displace Toronto and Vancouver as top markets in real estate
Limited supply in Calgary pushes rents higher
BY MARIO TONEGUZZI, CALGARY HERALD NOVEMBER 6, 2012
CALGARY — Calgary and Edmonton have displaced Toronto and Vancouver as the top-ranked cities for real estate, according to the Emerging Trends in Real Estate 2013 report released Tuesday.
The report, by PwC and the Urban Land Institute, said the Canadian real estate market is expected to remain steady with “modestly good” investment and development prospects across most property sectors for 2013, reflecting expectations of solid supply and demand.
Calgary was the top-ranked city in the country followed by Edmonton, Toronto, Vancouver and Ottawa.
“Growth characterizes Calgary’s future; it displaces Toronto as the top ranked city for 2013,” said the report. “This has made it challenging to acquire high quality real estate in Calgary, absorption of prime properties has reached record levels, and rents are being pushed due to limited supply.
“This trend will continue in 2013, especially in office and industrial employment space. Construction will increase in the housing and non-residential arenas, but nowhere near pre-crisis levels.”
According to survey participants, Canada’s real estate market will follow along in a seeming state of near-perpetual equilibrium compared with other more volatile regions studied in the report, including most obviously the United States.
“The results of this year’s Emerging Trends report reflects the fact that the Canadian real estate community understands real estate fundamentals and knows how to react to fluctuations in monetary policy and capital markets. Canada’s real estate industry continues to operate well despite uncertainties in domestic and global economies,” said Lori-Ann Beausoleil, PwC Canada’s Real Estate Leader.
http://www.edmontonjournal.com/business … story.html
Statistics: Posted by yoda — Tue Nov 06, 2012 12:23 pm
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Canadian • Prices remain high as Vancouver home sales slow
Prices remain high as Vancouver home sales slow
TARA PERKINS
The Globe and Mail
Published Wednesday, Sep. 05 2012
“Home sales this summer have been lower than we’ve seen for most of the past 10 years, yet we continue to see relative stability when it comes to prices,” Eugen Klein, the board’s president, stated in a press release.
The MLSLink Housing Price Index composite benchmark price for all residential properties in the Vancouver area came in at $609,500, down 1.1 per cent from July and down 0.5 per cent from a year ago.
http://www.theglobeandmail.com/report-o … le4520975/
Statistics: Posted by yoda — Wed Sep 05, 2012 2:13 pm
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Canadian • Vancouver now a buyers’ market, report finds
Vancouver now a buyers’ market, report finds
TARA PERKINS
The Globe and Mail
Published Wednesday, Jul. 04 2012,
A sharp decline in home sales in the Greater Vancouver area has tilted the market in favour of buyers, the local real estate board said Wednesday.
Sales of houses and apartments fell 17.2 per cent from May to June, and were 27.6 per cent below the level they were at in June of last year, according to the Real Estate Board of Greater Vancouver.
Just 2,362 properties changed hands in June, the lowest level for that month since 2000.
“Overall conditions have trended in favour of buyers in our marketplace in recent months,” Eugen Klein, president of the real estate board, said in a statement. “This means buyers are facing less competition and have more selection to choose from compared to earlier in the year.”
As sales decline, fewer homes are coming on the market. New listings in June were 18.9 per cent below those of May, and 3 per cent lower than a year ago.
A composite benchmark measure of house prices in the region fell 0.7 per cent over the course of the month.
http://www.theglobeandmail.com/report-o … le4389244/
Statistics: Posted by yoda — Wed Jul 04, 2012 12:37 pm
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Canadian • Vancouver housing slows to a crawl
The spring housing market has slowed to a crawl in Vancouver, with April seeing the fewest monthly sales in more than a decade and the number of unsold houses piling up.
The Real Estate Board of Greater Vancouver said Wednesday there were 2,799 sales in the region in April, down 13.2 per cent from a year ago and 2.6 per cent lower than a weaker-than-usual March. The spring market is key for buyers and sellers, as families try and arrange summer moves.
It was the lowest for April sales since 2001, and 16.9 per cent below the 10-year average.
Market watchers have expressed concern that the city may be experiencing a bubble, as cheap credit helps push prices higher and families deeper into debt. While the concern is for markets across the country, there is particular worry about Vancouver and Toronto.
Despite the weak sales, prices continue to edge higher in the city. The index the board uses to track prices showed them up 3.7 per cent from a year ago, to $683,800.
The number of new listings increased 3.6 per cent from March. The number of houses for sale is 6.7 per cent above the region’s 10-year average, as sellers look to cash out at what may be the top of the market. There are 16,538 houses for sale in the region, the board said, up 16 per cent from a year ago.
Toronto reports its numbers Thursday, and the Canadian Real Estate Association reports national figures on the 15th of each month.
http://www.theglobeandmail.com/report-o … le2420431/
Statistics: Posted by yoda — Wed May 02, 2012 1:53 pm
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