SERIES A5

Old neighbourhoods, new Calgary

A look at some of Calgary?s earliest communities and how they?re evolving with the times

RURAL ROOTS

Government gives to seniors housing

RURAL A9

real estate news from industry experts

FREE nov 28 to dec 4 2014 issue 04-47 editorial 403-781-1324 advertising 403-263-4940 crebnow@creb.ca

HERE

Calgary

9.8%

AND THERE

Demographics helping to distinguish Calgary market as Canada?s leader

CODY STUART managing editor more and more people into the region,? said Canada Mortgage and Housing Corp. (CMHC) senior market analyst Felicia Mutheardy. Lured by an economy that saw the province add 58,500 jobs between October 2013 and October 2014 and average paycheques ranking as the very best in Canada, Alberta?s population increased by 2.8 per cent between 2013 and 2014. In Calgary, the population increase was even more pronounced, with the BMO report showing the number of Calgarians aged 15 and older increasing by 4.1 per cent yearover-year in 2014 compared to just 1.8 per cent in Toronto and 2.0 per cent in Vancouver. Digging deeper into what separates Calgary, the number of Calgarians in the ?prime homebuying cohort? places the city tops amongst their big three, according to BMO. ?Calgary?s population share of Calgarians need not be defensive about their hometown?s place amongst Canada?s preeminent cities, at least not when it comes to the world of real estate. Having seen a rise in sales and prices, Calgary?s housing market has been experiencing the same prosperity seen in Vancouver and Toronto ? a trio billed as the ?hot three? in a recent report from BMO Capital Markets. There are, however, conditions that separate our city from the housing hot spots to the east and west. ?Toronto and Vancouver have been quite active, but in Calgary I think what?s really brought housing demand up [has been] the record levels of net migration and continued positive employment growth, which is bringing

SINGLE FAMILYOCT

?12

43 49 51 47 37 33 31 31 34

OCT12 NOV12 DEC12 JAN13 FEB13 MAR13 APR13 MAY13 JUN13 JUL13 AUG13 SEP13 OCT13 NOV13 DEC13 JAN14 FEB14 MAR14 APR14 MAY14 JUN14 JUL14 AUG14 SEP14 OCT14

*All statistics based on monthly data compiled by CREB ® via MLS ® activity.

37 37 37 38 39 45

Toronto Vancouver

5.0%

?

CALGARY?S POPULATION SHARE OF 25-TO-44 YEAR OLDS TOWERS OVER OTHER CITIES?

?

SAL GUATIERI SENIOR ECONOMIST, BMO CAPITAL MARKETS

7.8%

25-to-44 year olds (33.8 per cent in mid-2013) towers over other cities, while Vancouver and Toronto?s shares are more than two points above the national norm (27.1 per cent),? said BMO Capital Markets senior economist Sal Guatieri. ?By contrast, cities with weak housing markets, such as Saint John and Victoria, tend to have older populations.? Despite a rise in average house prices that according to BMO, also ranks as the highest in Canada (9.8 per cent year-over-year as of August), Calgary?s relative affordability remains as another distinguishing factor. While Calgary remains in the affordable category, requiring 23 per cent of household income to service the mortgage costs on a benchmark home, the typical Toronto family would need to spend 42 per cent of their gross income to buy a home. In Vancouver, the cost climbs to 62 per cent. Also helping to separate Calgary from the pack is the number of homes up for sale in the city. Calgary has seen a marked percentage increase in the number of newly listed homes in Calgary, exceeding increases Greater Toronto. By contrast, the number of newly listed homes in Greater Vancouver has declined compared to its spike in new listings toward the end of 2013. ?Demographics, for one [have been] the biggest underlying fundamental factor that separates Calgary?s from Greater Toronto?s & Greater Vancouver?s housing markets,? said Canadian Real Estate Association. chief economist Gregory Klump. ?The increase in demand has exceeded the rise in supply in Calgary more acutely than has been the case in either Greater Toronto or Greater Vancouver?s housing markets.? BMO REPORT A3

SANDY BEACH

MLS ® AVERAGE DAYS ON MARKET*

CONTENTS

OCT ?12 ? OCT ?14

BRIDGE OPENS

NEWS BRIEFS

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A3

POST FLOOD

MUNICIPAL

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A6 CREA survey

EVENT LISTING

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A6 CREB® STAFF

WEEKLY FEED

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A6

Sandy

Beach, the first of three 40 wooden bridges destroyed by June

MORTGAGE RATES

. . . . . . . . . . . . . . . . . . . . . . . . A8 2013 flooding, has reopened as part of an 18-month $11.8-million recovery project. ?Because they were such an

32 34 35 37

NEW FOUNDATIONS

. . . . . . . . . . . . . . . . . . . . . .

A10

Nicky Liao important transportation link in the

MARKET

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

A11

29 community, and for all Calgarians, Canadian newcomers 27 the City of Calgary made it a priority to replace these bridges,? said Mayor

25 26 28

HOW TO

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

A12

Winterize your vehicle Naheed Nenshi of the southwest connector located in Sandy Beach Park,

MAP

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B1 also referring to Rideau Park Bridge and Riverdale Avenue Bridge. COMMUNITY A3

AVERAGE HOME PRICE YEAR-OVER-YEAR % CHANGE AS OF AUG. 2014

Source: Canadian Real Estate Association

OPEN HOUSES

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

B15

@crebnow /crebnow crebnow.com

Tired of paying rent? Hate your commute? Call Doug McKay (403)975-1776

Text city to 587-333-0281 for photos & more details.

www.RealEstateAdvocates.ca dougmckay@shaw.ca

Real Estate Advocates This unique property in Millican Ogden is zoned for commercial use & is centered on two 25 x 130? lots. One lot is zoned residential and the other is zoned commercial. It has been updated to accommodate a small business with a new roof, kitchen and baths. The 3 bedrooms upstairs are currently being used as private offices with more work stations on the main level & in the basement. The main floor could also easily be used as a family home with a business downstairs. There is a direct entrance to the basement from the rear door. The wiring & internet are upgraded to accommodate a business & there is central air. There is lots of parking in the rear, and a single car garage for storage. The basement is wide open with lots of room to custom-ize to suit your needs & includes a 2 pc bath This home is in a great location & would be an ideal space for your business or as an investment property. $550,000 MLS ® C3642874

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