Avenuer
Senior Member
The fact our total starts are almost on par with Calgary, which has a higher population, is a good sign for us.
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Edmonton Real Estate Market
- Thread starter Daveography
- Start date
David A
Senior Member
As well as SFH, we beat Toronto (and everyone else) on row houses and respectable numbers on apartments too.
ChazYEG
Senior Member
This is also good news for continued affordability, which, to me, is the best selling point of Edmonton: affordable but with everything (or almost) you can expect in a big city.
IanO
Superstar
TAS
Senior Member
If an older home on a lot is torn down for a new SFH, is that considered a new housing start?
I imagine no new homes are being built in Montreal, Vancouver and Toronto now unless it's just a rebuild.
IanO
Superstar
Those would be, yes, as these numbers are typically based on building/development permits.
Avenuer
Senior Member
Our purpose built rental numbers are surprising, didn't expect them to be more than Calgary.
IanO
Superstar
Barnaby
Active Member
I don't really understand how these numbers are possible in Vancouver and Toronto. Both cities obviously need blanket rezoning, because the capital is there to match demand. So is the land...
archited
Senior Member
Vancouver and Toronto are in very tough positions (and there are many reasons for their current predicament). Solutions for both will not be easily found -- now there is a "rats abandoning sinking ships" scenario. Edmonton and Calgary can and are taking advantage. Although the graph doesn't highlight it as well as the reality dictates, Vancouver is in a worse position than Toronto -- scarcity of viable building sites and land availability and potential for a catastrophic change in sea level. Toronto at least is not constricted by land form.
IanO
Superstar
^sure it is... the 'green belt'.
thommyjo
Senior Member
Better money from selling condos vs purpose built rentals. That’s why I’m pretty sure. We can’t sell condos here, so we get more rentals.
David A
Senior Member
Perhaps, but something is profitable until conditions change and it isn't. So one might expect some shift more to rental construction elsewhere too. I don't think the combination of high interest rates and high prices has been very good for condos in the more expensive cities either.
Has the great Toronto condo boom finally hit a wall?
Toronto's once booming condo market is facing challenges as construction slows and sales plummet. Find out more.
financialpost.com
Really no major city has been building enough rental over the last few years, but Edmonton is at least close.
thommyjo
Senior Member
Yeah, I’m not speaking to the last 2 years, so much as the last 15 and the massive boom of condos and investors in our biggest markets.Perhaps, but something is profitable until conditions change and it isn't. So one might expect some shift more to rental construction elsewhere too. I don't think the combination of high interest rates and high prices has been very good for condos in the more expensive cities either.
Has the great Toronto condo boom finally hit a wall?
Toronto's once booming condo market is facing challenges as construction slows and sales plummet. Find out more.
Really no major city has been building enough rental over the last few years, but Edmonton is at least close.
Kosy123
Active Member
Bank of Canada reduces policy rate by 25 basis points
The Bank of Canada today reduced its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%. The Bank is continuing its policy of balance sheet normalization.
www.bankofcanada.ca
IT'S RATE CUT TIME wooooo
Any indications if this would spur more multifamily development?