Strong economic fundamentals will continue to push residential
demand in Calgary throughout 2015, a trend driven by the highest job growth in
Canada, according to a new
report published jointly by PriceWaterhouseCoopers and the Urban
Land Institute. With over 40,000 people moving to Calgary each year
for top employment opportunities, builders cannot keep up with demand. Housing
supply will continue to be tight, vacancy levels will continue to be low and,
as a result, it is
expected that prices will be on the rise.
The annual housing outlook report also discusses urban demographics. More and more homeowners are choosing to live in or move back to the urban core as convenience becomes an increasingly important buying decision.
Why the change?
According to the same report, much of this drive to city urbanization is due to changing lifestyle preferences – young families and professionals and empty nesters are shying away from suburban life for smaller properties that offer nearby amenities and don’t require the long drive.
Why is Smith a great buying decision now?
At Smith, we are experiencing firsthand homebuyers from many walks of life embracing downtown living. All have been attracted to Smith’s trendy Beltline location within walking distance to shopping, restaurants, community amenities and the downtown core. With interest rates forecasted to rise in 2015, purchasing a pre-construction condominium in a building like Smith allows you to lock down your home price and interest rate today.