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February 2019 Archives

Commercial real estate rallies in Alberta capital region

The real estate market in Wild Rose Country has been pretty bleak. But there's some good news on the horizon for the commercial real estate sector in Alberta, especially for the capital region. A recently compiled report from a commercial real estate company lists positive numbers when it comes to office vacancy rates in Edmonton.

Residential real estate prices continue their downward trend

The Western Canada real estate market is in the doldrums. Residential real estate transactions in Alberta have fallen significantly and if experts are right, they'll continue in a downward trend. But a real estate investment adviser believes the month-over-month downward trend is indicative of a market correction and even so, most homes remain unaffordable for many Albertans, especially those wishing to buy their first homes.

Real estate transactions: Rentals move into top spot

The real estate market is in transition. In Alberta where the oil industry has been sluggish, unemployment rates are escalating and the federal mortgage stress test has been a nemesis to many would-be homebuyers, real estate transactions have also been fewer. Alberta residents -- especially those in urban centres like Calgary -- are choosing to rent, rather than to buy, at least for the time being.

Residential real estate: Opposition wants stress test shelved

Alberta's Conservative Opposition Leader Jason Kenney wants Alberta residents to be able to opt out of the federal government's mortgage stress test. Kenney took Alberta NDP Premier Rachel Notley to task for not being more outspoken against the test, which makes it difficult for many Alberta residents to buy residential real estate. The stress test means that potential homebuyers must qualify for mortgages at interest rates offered by the Bank of Canada even if they are able to secure a lower interest loan.

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