5 Advantages of Edmonton’s Housing Market

5 Advantages of Edmonton’s Housing Market

According to a Macleans article which shows what you can expect to get for $500,000 in various Canadian cities, Edmontonians enjoy more purchasing power than their counterparts in other Canadian capitals. This is a huge advantage for local home shoppers but there are other unique features of the YEG market which makes it a better buy compared to many other cities.

Better Buying Power

Edmonton is a Government Town.

Public sector jobs provide the lucrative, stable of income needed for a vibrant housing market; well shielded from the fluctuations of a boom and bust economy. Having a sizable percentage of Edmonton citizens employed in the civil service means more price stability than Calgary which is far more subject to the whims of the provincial economy.

Edmonton is a young people’s city

Edmontonians are in their house buying prime. Edmonton has a youthful population at 35.3 compared to the national average of 37.6. This puts a larger slice of the population pie in the 29 to 33 age group which is the demographic with the highest number of first time home buyers. This is also an age when people are more likely to still be moving up the corporate ladder into jobs which make home buying feasible. Edmonton’s population is quite young even when compared to other Alberta cities such as Lethbridge at 38.1, Calgary at 36.8 and Red Deer at 37.6 years of age.

Edmonton is More Blue-Collar than Boardroom

The salt-of-the-earth psyche of the Greater Edmonton region promotes such core values as hard work, frugality and community which bolsters the city’s economic stability compared to more high-flying corporate head office jobs. The fancy suits take more of a beating every bust in oil prices than their coverall-clad counterparts. Financial prudence isn’t flashy but is effective for long-term financial success.

Edmonton is a GREAT City to Live in

Edmonton is a vibrant city with good governance and a host of amenities attractive to 30-somethings. These include the largest river valley park system of any major city in North America and summers filled with world class festivals including The Edmonton Folk Festival and the Edmonton Fringe; the oldest and biggest outside of founding city, Edinburgh, Scotland.

Given all these advantages, Edmonton is a great place to buy that forever home or rental property with stability, employment and livability in mind. When it’s time to buy, call Aura Appraisals Inc with fully-licensed, industry-designated staff ready to provide a valuation you can take to the bank.

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