Edmonton Real Estate Market

[David A]

Those numbers are all so over the place and really do vary greatly from city to city. For instance, Montreal which is twice as large, has half the starts of Vancouver.

Vancouver which is less than half the size of Toronto has almost as many starts. Winnipeg and Quebec City which are fairly similar sizes vary a lot too.

Halifax which is considerably smaller than Quebec City has almost the same number of starts ... and so on. Perhaps the only real insight here is that real estate is truly local and varies greatly across the country.

 

[ChazYEG]

Those numbers are all so over the place and really do vary greatly from city to city. For instance, Montreal which is twice as large, has half the starts of Vancouver.

Vancouver which is less than half the size of Toronto has almost as many starts. Winnipeg and Quebec City which are fairly similar sizes vary a lot too.

Halifax which is considerably smaller than Quebec City has almost the same number of starts ... and so on. Perhaps the only real insight here is that real estate is truly local and varies greatly across the country.

This is also telling of other things: construction cycles for multi-family buildings and large scale single family projects, size of current stock...

 

[Avenuer]

https://calgary.ctvnews.ca/feds-give-calgary-228m-for-housing-1.6644592

Calgary just got a $228 million injection from the HAF.

This part stands out:

I'm guessing when Edmonton gets our announcement, we have a similar condition as well for our downtown grant! No need to try and pry money off the CRL or add more expenses to our operating budget. Super excited to see what we get! Now that Calgary got $228 million, I hope we get $200 million upwards as well.

We will be getting around $175 million or so.

 

[Kosy123]

We will be getting around $175 million or so.

Honestly, that's a pretty good number. Would've hoped for a higher number but that's not too bad, especially if we had a Calgary like stipulation that some of that money could go to office conversions or DT grants.

 

[MacLac]

Need a crash course on understanding this SAAR but wow that Winnipeg number. Calgary a hot market and Vancouver & Toronto housing shortage stand to reason on their numbers.

Some crazy algorithm has to be involved…NO Way is YYC that high…….a combo of proposals vs actual…….

 

[MacLac]

We will be getting around $175 million or so.

That’s it? Thought we’d be 2 X of YYC just by the tone from the Housing Minister to Sohi about our new zoning…

 

[David A]

That’s it? Thought we’d be 2 X of YYC just by the tone from the Housing Minister to Sohi about our new zoning…

We do have a Federal Cabinet Minister, I hope he could deliver a bit more, too.

 

[MacLac]

Honestly, that's a pretty good number. Would've hoped for a higher number but that's not too bad, especially if we had a Calgary like stipulation that some of that money could go to office conversions or DT grants.

I suppose that’s not metro bucks. So when SPark and the Albert are factored in….it’ll be equal if not exceed YYC’s #’s

 

[Greenspace]

We will be getting around $175 million or so.

....which the City is going to apparently use for general revenue (pay retroactively for the zoning renewal), my guess is to lower tax increase this year.

 

[Kosy123]

....which the City is going to apparently use for general revenue (pay retroactively for the zoning renewal), my guess is to lower tax increase this year.

That's extremely disappointing if that's the case. They should at least use some of that for residential multifamily grants. I'm hoping the Feds put a requirement for some of that funding to go towards speeding up residential development on transit nodes/city core. Or just give us a bigger chunk of cash based on our efforts.

 

[northlands]

We will be getting around $175 million or so.

Brutal. Makes you wonder how exactly it's decided on that Calgary received 30% more, albeit I guess they're facing substantially more affordability issues than Edmonton.

 

[Greenspace]

^Edmonton is 1m people, Calgary is 1.5m. and has more housing affordability challenges at the moment.

 

[TAS]

....which the City is going to apparently use for general revenue (pay retroactively for the zoning renewal), my guess is to lower tax increase this year.

Calgary is currently an 8% tax increase - will be interesting to see how they spend their allocation versus Edmonton.

Whatever money the feds do provide, it is over 4 years so it will be $44 million per year and prior to each year's cheque, each city has to meet certain criteria in how they spend it.

 

[ChazYEG]

^Edmonton is 1m people, Calgary is 1.5m. and has more housing affordability challenges at the moment.

Edmonton proper is probably closer to 1.2M (and was already past 1.1 early this year) and Calgary is close to 1.4M. the city proper size difference is under 20%, not 50% as you said.

 

[MacLac]

Edmonton proper is probably closer to 1.2M (and was already past 1.1 early this year) and Calgary is close to 1.4M. the city proper size difference is under 20%, not 50% as you said.

I thought it was common knowledge that YEG is at 1.5metro vs 1.6 metro for YYC