experts: real estate column Wednesday, September 22, 1999

ALBERTA vs BC

By Ozzie Jurock

Prices Calgary Edmonton Vancouver Fraser Valley
99/98 99/98 99/98 99/98
Condo Suites $128,500/$119,000 +08% 84,000/79,000 +06% 175,000/172,000 +01% 110,000/121,000 -9%
Houses $165,900/$157,000 +05% 131,400/130,000 +01% 361,000/349,000 +03% 252,000/241,000 +5%

In August of 1999 (versus August, 1998) condos are up everywhere except in the Fraser Valley. Home prices are up everywhere.

Where to invest:

  1. It is cheaper top buy a condo in the Fraser Valley than in Calgary.
  2. The entry point for the average family is much lower in Alberta for single family homes than in Vancouver and the Fraser Valley.
  3. Future upside? Depends on
    • Inward migration
    • Population growth
    • Oil prices

Conclusion

For an investor, a condo in BC is better (higher rents). For the homeowner we like BC better because of the lifestyle. But for cash investors in single family homes? ALL OF THE WEST IS BEST





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