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Edmonton Real Estate Market

Oilers99

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Please tell me these aren't the movers and shakers of our city...

They never said they were the 'movers and shakers' of the city, it's a broker panel. Their business is derived by doing transactions both in the for-sale and for-lease markets. Not really sure why people here need to be so negative when they are just pointing out their thoughts from their respective perspectives on the Edmonton real estate market.
 

IanO

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Taylor Riar
(He/Him) • 1st
Senior Associate at Colliers International
2h • Edited • 2 hours ago

Our Q4 2021 Edmonton Office Market statistics were released last week. Despite an increase in vacancy and the Omicron variant postponing an immediate return to the office, our team has been encouraged by an increased level of leasing activity over the past few months.

This activity has been driven by tenants who have a clear understanding of their longer-term office requirement, and as a result are able to leverage the current office market in their favor.

Our full report can be found here:

 

IanO

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Screen Shot 2022-01-27 at 3.24.35 PM.png

 

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ChazYEG

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I’m curious if high housing costs and high oil prices are going to drive people back to Alberta from BC. I know I’m currently looking to secure work back in Edmonton for myself, and I do half decent salary-wise. I can’t imagine how others afford it here.
I wonder the same...
The company I work for is currently headquartered in Vancouver, but as we expand, we're looking to shift things to have the HQ in Edmonton, hiring mostly in AB.

Me and my peers make about the same salary, which is not bad, even for BC and still, compared to them I live like a king. The only thing they usually point out (kind of unfairly) is the weather. And I'm talking people who currently live in downtown Vancouver, mostly. I can see people that come from less plentiful and interesting environments being even more open to the idea, if oil prices keep spiking.
 

ChazYEG

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So about 1.5 yrs ago I called that Alberta and Edmonton was about to boom. With the level of investment now coming in, still-affordable housing, good salaries, amenities of a 1.5+million city, all the ingredients are there and I think we are seeing a big build in momentum right now.
I still see the real boom about 1 to 2 years down the road, considering how much the pandemic is still hurting us, especially Downtown, but I don't disagree with you.

Also, if things go according to plan, my company alone will be responsible for 3 startup companies being headquartered in Downtown Edmonton (us, an Oil company, a protein based food company and a Telecommunications company). So yey office market too.
 

archited

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This from the National Post -- true for Edmonton as well...
  • A quick increase in Calgary home prices isn't a result of the improving energy market, say realtors. This time it's because of home buyers moving to the city from Ontario and British Columbia. One agent who spoke with the Financial Post's Stephanie Hughes called business in January "full gangbusters."
 

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