Edmonton Real Estate Market

[Avenuer]

Those numbers are BANANAS, like we started more housing than any other city other than Toronto? And we weren't even that far behind them? Astronomical numbers

What's going on in Ottawa? Like nothing happening there in August...

 

[TAS]

Those numbers are BANANAS, like we started more housing than any other city other than Toronto? And we weren't even that far behind them? Astronomical numbers

What's going on in Ottawa? Like nothing happening there in August...

I think every month in 2024 we are leading the country in SFH construction.

 

[TAS]

Those numbers are BANANAS, like we started more housing than any other city other than Toronto? And we weren't even that far behind them? Astronomical numbers

What's going on in Ottawa? Like nothing happening there in August...

This was shared earlier but reposting Q2 stats below for more perspective. Ottawa has been low all year. Montreal has a staggering 95% of all new housing as apartments - definitely increasing their density.

Edmonton has been strong all year but especially in August. Highest percentage of SFHs in Canada.

 

[policyenthusiast]

Found this posted on YYC site.

Housing development for August 2024

View attachment 597145

Some charts at a provincial level:

 

[BrettB]

This was shared earlier but reposting Q2 stats below for more perspective. Ottawa has been low all year. Montreal has a staggering 95% of all new housing as apartments - definitely increasing their density.

Edmonton has been strong all year but especially in August. Highest percentage of SFHs in Canada.

View attachment 597162

The row housing numbers are pretty impressive in Edmonton. I haven't been able to find definitions, anyone know if the definition of row housing includes corner lots that have been redeveloped into 8-plexes in older areas?

 

[degrandprix]

https://balletedmonton.ca/be-home-tour/

Interesting opportunity to see inside some unique properties. One of them is a rooftop penthouse on the Cambridge Lofts building, I didn't know that even existed!

Tickets are a little expensive at $45, but it is a fundraiser for Ballet Edmonton.

 

[IanO]

^It's pretty cool (actually warm). Super high performing glazing and mullions, with the elevator machine heat being pumped into the unit to add comfort.

I was fortunate to be at more than a few events up there and its patio cannot be beat.

 

[Gus Haynes]

Owned (or used to be owned) by Vivian Manasc, I think?

 

[cmd uw]

Owned (or used to be owned) by Vivian Manasc, I think?

Correct.

 

[Oliver_William]

interesting article about housing starts in Ontario versus Alberta. Positive things about Edmonton.

“… The evidence is clear. The work to reform the many restrictive rules around new housing can produce results. It’s a simple lesson: Emulate Edmonton.”

Globe editorial: What Ontario can learn from Alberta about housing

A key difference between east and west is in the rules, from how long it takes to garner housing approvals to how much new housing is allowed in the zoning rules

www.theglobeandmail.com

 

[David A]

interesting article about housing starts in Ontario versus Alberta. Positive things about Edmonton.

“… The evidence is clear. The work to reform the many restrictive rules around new housing can produce results. It’s a simple lesson: Emulate Edmonton.”

Globe editorial: What Ontario can learn from Alberta about housing

A key difference between east and west is in the rules, from how long it takes to garner housing approvals to how much new housing is allowed in the zoning rules

www.theglobeandmail.com

Ontario is a big province, but in reality most people live in a very small part of it and much of the rest of southern Ontario does not want to be swallowed by an ever expanding Toronto.

Toronto is four times the size of our city and is reaching the limits for single family housing growth. Whereas we still have room to grow.

So we may be moving towards a Canada where population is not so concentrated in geographically very tiny parts of the country like the GTA and GVA but more dispersed to a number of mid size cities in the east and west.

 

[policyenthusiast]

From Taproot:

Residents of Dovercourt in west Edmonton protested a new Hope Mission shelter set to open in an old warehouse near Yellowhead Trail and 149 Street. Protesters argued the industrial area is not suitable for a shelter because it lacks public transportation and essential services. Hope Mission says it will provide transportation to and from the shelter, which will operate round the clock, but residents remain concerned about the suitability and safety of the location.

Echoing discussions from this forum. I'm not sure how well-founded the argument is, as typically vagrancy happens in retail areas and not in suburbs. I would certainly be concerned if I were a business owner with assets in the industrial area though.

 

[CplKlinger]

Just re-posting this excellent city data portal for visibility. It includes building permit data from 2005 up until present (updated quarterly), and breaks it down into a map and a variety of graphs that you can filter by housing type, year, neighbourhood, etc.

 

[policyenthusiast]

From Better Dwelling:

Canadian Real Estate Flippers Are Still Near Record Levels ​

Canadian real estate may have slowed for the average person, but not for flippers. The share of homes purchased and sold in less than 12 months remained largely unchanged in Q2 2024. In fact, the share of sellers that managed to flip their property within a few months is just off record highs. It’s getting harder to see this trend dying too, as rates fall and policymakers incentivize real estate investors to firm home buying demand.

 

[David A]

From Better Dwelling:

Canadian Real Estate Flippers Are Still Near Record Levels ​

Canadian real estate may have slowed for the average person, but not for flippers. The share of homes purchased and sold in less than 12 months remained largely unchanged in Q2 2024. In fact, the share of sellers that managed to flip their property within a few months is just off record highs. It’s getting harder to see this trend dying too, as rates fall and policymakers incentivize real estate investors to firm home buying demand.

With all the tax changes over the last few years targeted at this (higher capital gains rates, restrictions on claiming capital gains and principal residence exemptions ...) the Canada Revenue will also be very happy about this!