2012 impacts of residential construction and renovation in Lethbridge

According to a study done by Will Dunning Inc. for the Canadian Home Builders Association, despite fighting off the remnants of a recession, land use regulations, and government taxes, fees, and levies, the Lethbridge new housing and renovation market is supporting our local economy in a powerful way.

Purchasing a home is the largest single wealth builder for many Lethbridge families, and people seem to invest in Lethbridge before other cities in Alberta.

Read more: http://tinyurl.com/ceef3hk

Tax hike not as big as expected

Taxes will not be going up as much as predicted in Medicine Hat this year.

The three-year budget plan passed last year predicted a 4.5 per cent jump for single-family homeowners in 2013.

According to Millrate Bylaw, introduced on Monday night, the tax rate on single family residential property could include a 3.927 per cent increase this year.

Read more: http://tinyurl.com/ct9nbel

Calgary Residential Statistics: February 2013

Total residential sales for the month of February 2013 totaled 1,711 units, a one per cent decline over the previous year. Accounting for the leap year in 2012, activity in the single family market resembles last year’s activity. However, even with one less day in the February 2013 figures, condominium sales have made significant gains increasing by 13 per cent relative to February 2012.

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RAISING A VILLAGE

East Village is on its way to becoming one of Calgary’s most sought after neighbourhoods.

“Starting this year it’s fast forward again, it hasn’t slowed down at all actually which is really great,” said Susan Veres, vice president marketing and communications for the Calgary Municipal Land Corporation (CMLC).

“We finished the year last year (and) interest in the remaining parcels of land was really quite high so our focus last year and this year will be on commercial development, less on the multifamily side.”

Read more: http://tinyurl.com/c7gajbg

REPORT SUGGESTS OFFICE ACTIVITY TO ‘SURGE’ IN 2013

Growth is the key word in a report outlining Calgary’s office, industrial, commercial and multi-residential sectors from one of Canada’s leading fully integrated real estate organizations.

In Morguard’s 2013 Canadian Economic Outlook and Market Fundamentals Research Report, Calgary was singled out as one of the best markets in the country, with the organization predicting even more expansion in the coming year.

Read more: http://tinyurl.com/cx9abje

Residential strength indicated by permits

Building permit applications show new residential construction is strengthening, especially in the single-family home area, says Kevin Griffiths, chief building official with the City of Calgary.

“Overall, we’re seeing a strengthening of the single-family activity,” says Griffiths, discussing the October report on building permit applications in Calgary.

Read more:  http://tinyurl.com/bq2f9yt