Lacklustre luxury

High-end housing market continues sluggish recovery, but slow sales bump up supply 

As a former long-time writer with the Calgary Herald focusing on the real estate beat, I knew how popular coverage of the real estate industry was to readers.

One aspect of the industry people always loved reading about was the city’s luxury home market. So, I was curious how the high-end segment of the housing market has been faring lately.

Year-to-date sales – up to the end of April – of $1-million-plus properties totalled 204 transactions, which is down slightly from 211 during the same period a year ago, says Ann-Marie Lurie, chief economist with CREB®.

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Down but not out

Downtown office market begins bounce back

People who have lived and worked in Calgary for a long time know that the downtown office market is a great barometer of what’s happening in the city’s overall economy.

For the past couple of years, record vacancy rates in the heart of the city have made headline news, not only in Calgary, but nationally.

However, a recent report by commercial real estate firm Avison Young suggests we’ve hit the bottom and there’s nowhere to go but up.

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Population planning

City of Calgary report provides estimates for short-term growth in city’s suburbs

What’s Calgary going to look like in the next five years when it comes to growth and the housing market?

The City of Calgary’s Suburban Residential Growth 2017-2021 report sheds some light on where the city is headed in terms of population and housing growth over the short term.

The draft document is an interesting one, and it serves as a starting point of discussion as the City looks to sustainably increase its footprint.

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