Alberta houses' five-year common worth progress amongst lowest in Canada

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Alberta could also be a sizzling actual property market at present, however common worth progress during the last 5 years for its two largest cities was among the many lowest within the nation, a brand new report has discovered.

The examine by Quebec-based in contrast common costs in June 2018 with these this previous June, based mostly on Canadian Actual Property Affiliation information, in additional than 50 areas throughout Canada.

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Calgary ranked 52nd with its common worth climbing about 27 per cent, or a $117,100 improve in worth. That’s based mostly on a mean worth of about $431,200 in June 2018 versus the common worth of $548,300 this previous June.

Edmonton’s market fared worse. The truth is, its share common worth progress ranked final amongst all areas, more and more 5.6 per cent between 2018 and 2023.

In June 2018, the common worth of a house in Edmonton was $356,800, and in June this 12 months, the common worth was $376,800 — up about $20,000.

Different massive centres noticed extra important progress, together with the Higher Toronto Space the place the common worth was about $763,100 in 2018, rising to about $1.17 million in June — a rise of greater than 53 per cent.

The best share improve in common worth, nevertheless, didn’t happen in Canada’s largest cities. Slightly, the area of Tillsonburg and District in Ontario, about 50 kilometres southwest of London, led the nation with its common worth rising from $285,400 in 2018 to $581,900 this 12 months — a leap of practically 104 per cent.

Amongst massive cities, the examine discovered Halifax-Dartmouth noticed the most important share rise in common worth from 2018 to 2023. There, the common worth was $287,300 in June 2018, rising about 84 per cent to $528,400 in June this 12 months.

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