Calgary and Edmonton condo markets forecast to grow
Tuesday, January 30 2007 @ 05:53 MST
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CALGARY, Jan. 30 /CNW/ - Strong demand will drive steady price increases in the Calgary and Edmonton condo markets through the rest of the decade, according to new data released today by Genworth Financial Canada, a subsidiary of Genworth Financial, Inc. (NYSE:GNW). Genworth's Metropolitan Condominium Outlook report forecasts Calgary condo price growth to average 12.3 per cent in 2007, then 4.5 per cent annually through 2010; while Edmonton will average 18.3 per cent this year and 4.1 per cent annually to 2010.
"Recently, Calgary has been booming and we're seeing similar major growth in Edmonton, as supply tries to keep up with growing demand from fantastic population and economic growth," said Peter Vukanovich, president Genworth
Financial Canada. "It's a great time for Calgarians and Edmontonians to realize the dream of homeownership."
