Calgary Real Estate is Booming
The tremendous growth in redevelopment activities in southwest Calgary clearly shows signs that Calgary real estate is booming. Calgary realtors redeveloping Calgary Real Estate.
Calgary's southwest community of Marda Loop shows the fastest redevelopment of Calgary real estate residences. This collection of neighborhoods has been transformed by infills over the past decade.
For Altadore neighborhood, there have been 94 new construction permits issued this year - for detached and semi-detached Calgary house for sale.
After the 2006 Calgary real estate post-boom slowdown, values of new homes for sale have now surged, creating a gentrification area with positive cycle feedback.
The increasing demand for Calgary housing is attributable to high income levels and low rates. Calgary houses for sale are affordable to Calgarians because of the high income growth in the oil-driven city. Another factor is the extra low interest rates. Even after the catastrophic floods in southern Alberta, the Calgary real estate market continues to roll on.
The Royal Bank of Canada's affordability index reflects that Calgary's average home-owning household spends 35% of its income on shelter. This is way higher than the generally comfortable level for lenders.
A PriceWaterhouseCoopers report manifests that Calgary real estate is marching on a different drum - a common optimism known to the city. Calgary has identified its top five fastest-growing neighborhoods: Connaught, Altadore, Britannia, Lynx Ridge and Cliff Bungalow.Posted by Ross PAVL on