Should property be bought as Edmonton pushes housing market?
The credit of second best housing market goes to Edmonton.
The performance of Edmonton
In 2012, the housing prices climbed steadily which was more than 5% in December in compared to the prices same time in the previous year.
The performance for single homes was even better which showed an appreciation by almost 7% in compared to last year.
The President also gave encouraging reports about the performance.
However, the performance had dipped in 2007, but after that there was no looking back.
An official informs that the market is likely to stable in 2013 because the number of buyers would go up and there would be buyers form even the other provinces.
A senior official says, “While it takes six months to find a job in Eastern part of Canada, here it takes only six hours.”
The encouragement comes from the report that in 2012, more than 85 properties were sold for more than $1 million.
The idea of buying a property
Campbell, founding partner of Real Estate Investment Network says, “Population growth is strong, job growth is strong and things are supporting this market quite nicely.”
To decode this statement one can always expect a high demand of houses and a good business in the housing market in the current year.
Campbell also predicts that there will be more buyers this year and the housing prices will go up may be by next spring.
And the growing rent across the country makes him throw this speculation about housing market.
Factors supporting the growth of housing market
The job vacancies have increased specially in this part of the country; people have been paying a huge rent in the last year as they had to defer the plan of buying a house due to multiple changes in the market. Aloes, the prices of houses are going to be quite stable. The economy of the country is likely to be more stable than it has been in the last year.
If everything is put together, one can easily calculate and predict that this year could be a good time to buy a property as there are multiple supportive factors. Hence, the predictions made by the experts can be true by and large and buyers can actually execute their planning in 2013.