Calgary Update
After a slow period in Calgary, the real estate market is starting to pick up City Lifestyle Group homes are selling again. Last week CLG sold 3 of 6 homes available. The Alberta government oil royalties have not changed, low interest rates still exist, and there is an excellent choice of supply in great locations. Purchasers are choosing to get into the market once again. Oil prices are definitely stabilizing around the $30 USD level. Also there has been agreement in principle on an oil supply freeze from major producers. (Opec, Russian, Iran, etc.)
Also, the Federal Government is investing close to one billion dollars into the Alberta infrastructure to ensure the economy improves. There is still large net migration to Calgary and the economy is improving. This all bodes well for the improving Calgary real estate industry, and CLG. It’s an ideal time to purchase in the inner City of Calgary. Many savvy investors are purchasing now, to take advantage of these positive buying conditions.
Vancouver Update
Vancouver’s market continues to be excellent, lack of supply and increasing demand, coupled with the decreased value of the Canadian dollar has allowed off shore investors to continue purchasing. Values continue to increase.
The Vancouver market is very strong, to sell and purchase with continuing increases expected into 2016/2017.