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Edmonton Real Estate Market

Just in case anyone is wondering why so many people are coming here from BC and Ontario (ie. Vancouver and TO), here is some recent information from RBC

Living in Vancouver in particular does not seem to allow to have anything left over for any other costs of living necessities, such as food, transportation, etc...

1712158896225.jpeg
 
David A said:
Just in case anyone is wondering why so many people are coming here from BC and Ontario (ie. Vancouver and TO), here is some recent information from RBC

Living in Vancouver in particular does not seem to allow to have anything left over for any other costs of living necessities, such as food, transportation, etc...

View attachment 553335
Click to expand...
And now us Albertans can reverse the actions of BC'ers 10 years ago when Albertans were flocking to the Interior in droves and they were aggressively waving/holding signs, doing stoopid shit to their vehicles in lots and on the road. I remember Redford was in power and at the same time she came out with banning BC imports like wine etc. Which I am proud to say I have not consumed a drop of BC wine since....
 
As much as I love Vancouver, it has very much become a "lifestyle" city where young people in their early to mid 20's go to have fun and be care free. Couple that with some high income earners who managed to land a great IT job and then some who come from generational wealth, that makes up a huge portion of the demographics of the city now. Vancouver is incredibly hostile to middle class families and for people with occupations that pay around the median. The prospects for young people living there are incredibly dim.
 
I mean a few years ago sure it would've been much cheaper to buy and live in Coquitlam vs. the City of Vancouver. However prices are so high throughout Metro Vancouver it really doesnt matter anymore and is all a wash.

For renting, it's definitely still cheaper to rent in Langley/POCO/ Burnaby than downtown Vancouver however I was referencing buying.
 
Munanyo said:
I mean a few years ago sure it would've been much cheaper to buy and live in Coquitlam vs. the City of Vancouver. However prices are so high throughout Metro Vancouver it really doesnt matter anymore and is all a wash.

For renting, it's definitely still cheaper to rent in Langley/POCO/ Burnaby than downtown Vancouver however I was referencing buying.
Click to expand...

Even it's far as Chilliwack now. My dad sold his place there 7 years ago for $400k and same places in complex are selling for nearly $800k. He first bought there 16 years ago to retire for $200k.
 
Yes, l realize is some price variation within the GTA or GVA, which is what I was thinking of when I said Toronto or Vancouver.

The cities themselves are more expensive than the outlying areas, as is often the case, but even the suburban areas are still a lot more expensive than Alberta cities.
 
Edmonton could really help it's future by encouraging family friendly amenities in the core. While I very much like my visits to Vancouver (DT), I understand that it seems to cater much more to myself than it does to kids.

Even Edmonton's core is already pretty kid friendly, and I want it to get better. Safer streets, parks, safe connections to the ravine, sports fields/courts, etc.

I'm now shopping for a condo in the core, hoping to find something in the next year for my move back to the city from St.Albert...
 
Another example of the increasing and prominent coverage Alberta is getting nationally related to real estate affordability. Although not specifically about Edmonton, the city is actually mentioned a couple of times in the article.

macleans.ca

The Move: In Ontario, she worked three jobs. In Alberta, she's mortgage-free - Macleans.ca

After selling her Kitchener townhouse for $730,000, Odette Karlsson bought a new-build townhouse in Lacombe, Alberta, for half the price—and paid off her debts in the process.
macleans.ca macleans.ca
 
Plaza 124 kitty corner to the Maclaren has sold. I guess that means residential conversion plans were abandoned by previous owner (Casia?). Maybe that frees them up to pursue their towers further up 124 street.

That said, the amount of commercial property transactions lately has been impressive. Speaking anecdotally from what I see posted on LinkedIn, I have never seen so many deals happening - from multifamily to industrial and now this office building.
 
Romanov said:
Plaza 124 kitty corner to the Maclaren has sold. I guess that means residential conversion plans were abandoned by previous owner (Casia?). Maybe that frees them up to pursue their towers further up 124 street.

That said, the amount of commercial property transactions lately has been impressive. Speaking anecdotally from what I see posted on LinkedIn, I have never seen so many deals happening - from multifamily to industrial and now this office building.
Click to expand...

I hope Plaza 124 is converted to a mixed-use building that includes a hotel.
124 St is dying for hotel space.
 

Persistent strong demand for rental units and insufficient supply are expected to lead to further declines in vacancy rates in 2024 and 2025. This trend should persist as long as Edmonton’s population continues to grow. However, if construction activity aimed at meeting rental market demand aligns with expectations, vacancy rates could increase only marginally in 2026
Click to expand...

Boys and girls, we’re getting consecutively strong rent growth
 
Gronk! said:
edmonton.taproot.news

As Ottawa pushes for density near transit, research shows Edmonton has challenges

The federal government's recent push for cities to change rules that have limited dense housing near high-frequency transit has underlined new research, which shows Edmonton has not added population in many of these areas for decades.
edmonton.taproot.news edmonton.taproot.news
Click to expand...
Given how much trouble we've had getting transit oriented development off the ground here, it's not surprising that the planning team would try and focus the TOD growth onto only some of the stations. There's so many parts of town with lots of "potential" for densification, but clearly not enough demand to go around.
However under a federal directive to increase density around stations, I can't imagine there will be any pushback from the city.
 
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