Thursday, March 21, 2013

Calgary Ranked Top Canadian City in Which to Live...

Calgary ranked top Canadian city in which to live

City comes out on top in MoneySense magazine rating of 200 places across Canada

Calgary has overtaken Ottawa as the best place to live in Canada, according to an annual survey by MoneySense magazine in a ranking based on hard data such as employment, housing prices, crime, weather and household income. Mayor Naheed Nenshi was asked about the honour.

CALGARY — Calgary has overtaken Ottawa as the best place to live in Canada, according to an annual survey by MoneySense magazine in a ranking based on hard data such as employment, housing prices, crime, weather and household income.
In releasing its results of 200 Canadian cities on Wednesday, the magazine said “high incomes and an abundance of jobs fuelled by the boom in the energy sector are among the reasons it jumped from No. 14 last year to No. 1 this year.”
In addition to being the top city, it was also named the top city in which to raise kids.
“This survey is a reminder of what Calgarians already know: that Calgary is a great city in which to make a living and a life. And as Calgarians, it’s our job to make this city even better,” said Calgary Mayor Naheed Nenshi.
Alberta has five places listed in the top 10 this year.
St. Albert is second with Strathcona County fourth, Lacombe eighth, and Lethbridge ninth.
Other top 10 places are Burlington third, Oakville fifth, Ottawa sixth, Saanich seventh, and Newmarket 10th.
Calgary also ranked first as the best place to raise children and third as the best place for new immigrants behind Burlington and Vaughan.
In a list of the top large cities in Canada, Calgary is first followed by Ottawa and Edmonton.
In a list of top small cities in Canada, St. Albert was first followed by Strathcona County as second and Lacombe third.
Harry Hiller, a professor of urban sociology at the University of Calgary, said there is a lot of subjectivity that goes into these types of rankings.
“How you rank anything is open to huge discussion and debate,” he said, adding it depends on what areas are used to determine the rankings.
“What seems to be very important here are employment opportunities and income and obviously we’re going to do really well on that. So for that reason we would move ahead of other places.”
The fact Calgary leads in raising children is not a surprise due to a high percentage of in-migrants who are young adults who are having children with the highest birth rate in the country, he said.
Bruce Graham, president and chief executive of Calgary Economic Development, said the ranking provides great exposure for the city elsewhere.
He said the ranking is based on what’s important to people.
“And the end result is very much to our liking,” said Graham.
“I think for anybody you still need to be able to make a living, make a life. And when you look at the numbers here you can make a very good living in many parts of the country actually. I think one of the things that has helped shape our ranking is that not only can you make a living here and do very well from a renumeration standpoint but it also has by comparison a very high quality of life. A great place to raise a family.”
mtoneguzzi@calgaryherald.com
Twitter.com/MTone123


Thursday, March 14, 2013

Calgary New Home Prices on the Rise

Calgary new home prices on the rise

Up 3.3% from last year

 
Calgary new home prices on the rise

New home prices in the Calgary region were on the rise in January.

CALGARY — New home prices in the Calgary region were on the rise in January.
Statistics Canada reported Thursday that its New Housing Price Index for the Calgary census metropolitan area was up 3.3 per cent from a year ago and it had also increased by 0.5 per cent from December.
Nationally, the NHPI rose by 2.2 per cent on an annual basis and by 0.1 per cent month-over-month.
“The combined metropolitan region of Toronto and Oshawa, as well as the region of Calgary, were the top contributors to the advance. Builders indicated that market conditions were the primary reason for higher prices in Toronto and Oshawa, while increased material and labour costs contributed to higher prices in Calgary,” said the federal agency.
The largest monthly price advance in January occurred in Charlottetown at one per cent.
In Winnipeg, where the pace of the annual increases has been accelerating over the last several months, year-over-year prices were up 5.9 per cent in January, which was the biggest increase in the country, said Statistics Canada.
mtoneguzzi@calgaryherald.com
Twitter.com/MTone123


Saturday, March 2, 2013

Calgary Resale Housing Market Sets All-time Record for Average Sale Price

Calgary resale housing market sets all-time record for average sale price

February MLS sales eclipse prices set in boom of July 2007

 
CALGARY — Calgary’s resale housing market set an all-time average sale price record in February, eclipsing the mark which has stood since the boom in July 2007.
However, total sales in the market were down 1.21 per cent from the year before.
According to the Calgary Real Estate Board, the average MLS sale price for a single-family home during the month was $518,452, up 10.30 per cent from last year while the average price for overall MLS sales in the city was $457,120, up 7.46 per cent year-over-year.
The previous single-family home record high for average sale price was $506,671 in July 2007 and it was $452,589 in July 2007 as well for overall MLS sales in the city.
“Calgary’s housing market remains one of the most affordable in Canada and while other major centres have recently been experiencing slower sales activity Calgary is among the top markets in Canada for demand growth,” said Cody Battershill, a realtor with RE/MAX House of Real Estate.
“Alberta incomes continue to lead the country. This is all-around good news for the city as we continue to welcome a steady stream of new Calgarians to be a part of the energy that is Calgary. The city remains an amazing small, big city with one of the highest standards of quality of living in the world and unmatched economic opportunity across all of Canada.”
Total Calgary MLS sales of 1,711 in February were down 1.21 per cent from a year ago while single-family home sales fell by 5.62 per cent to 1,209.
In the condo apartment category, sales rose by 13.41 per cent to 279 but the average sale price dipped by 0.40 per cent to $287,830.
And in the condo townhouse sector, sales were up 8.78 per cent to 223 and the average sale price increased by 8.50 per cent to $336,406.
Benchmark prices, which CREB describes as typical properties sold, rose in all housing categories: total residential, 8.25 per cent, $396,100; single-family, 9.31 per cent, $442,500; condo apartment, 5.95 per cent, $252,900; and condo townhouse, 4.62 per cent, $283,000.
Prices during the month were buoyed by very strong activity in the luxury home market.
According to Mike Fotiou, associate broker with First Place Realty in Calgary, there were 63 properties that sold for $1 million or more during the month, a 50 per cent hike from last year, and a record amount for a February.
The month also had the $10.35 million sale of a home in Aspen Woods which set the all-time record for an MLS sale in the city.
“While the average price reflects record levels in Calgary, those numbers can be misleading,” said Becky Walters, president of CREB. “Last year there were more home sales in the higher-end segment of the Calgary market compared to 2007, and this trend has continued into 2013, causing the average price to rise above peak levels.”
The real estate board said it focuses on the benchmark price which is based on the attributes of the home including repeat sales. This pricing methodology provides a better indication of how prices for similar properties have trended over time, it said.
“While our economy does not reflect growth recorded pre-recession and continues to be plagued by short-term risk, consumers are feeling confident about the long-term prospects of this city and continue to support growth in our housing sector,” said Ann-Marie Lurie, chief economist of CREB.
mtoneguzzi@calgaryherald.com
Twitter.com/MTone123