EDMONTON REAL ESTATE @EdmontonRealty

Housing looks lacklustre in 2011: report Canada had one of the better performing housing markets in 2010, according to a Scotia Economics year-end review, though the outlook for 2011 anticipates a fairly lacklustre year. Scotia's Global Real Estate Trends report tracked housing in 12 advanced nations, and found that Canada was one of six countries this year where inflation-adjusted home prices increased. The report however, also found that this country's housing market was one of the most volatile. Factors such as the introduction of the harmonized sales tax in Ontario and British Columbia, expectations of rising interest rates, and changing criteria for mortgage lending all played a part in the volatility. "Overall, we anticipate a fairly lacklustre year (in 2011) for residential housing, with modestly higher sales volumes and flat inflation-adjusted prices," said Adrienne Warren, senior economist for Scotia Economics. "The bigger risk likely awaits 2012...

Edmonton rents stable, vacancy rate dips EDMONTON - Finding an apartment to rent in Edmonton is expected to get a little tougher next year when the vacancy rate is forecast to slip and rents are expected to creep up. The vacancy rate for rental apartments will drop to about 3.5 per cent by the fall of 2011 as the economy improves, Canada Mortgage and Housing Corp. said Thursday. A typical two-bedroom unit is expected to go for nearly $1,035, up $20 from 2010. Fewer landlords will offer rental incentives as demand for their units rises, CMHC added. "A growing economy will help to reduce unemployment and encourage more newcomers to the region," the federal agency's annual fall survey said. The apartment vacancy rate has already edged down to 4.2 per cent in October for rental apartments across the Edmonton census metropolitan area from 4.5 per cent in October 2009. The drop comes after three straight years of increases. The vacancy rate also fell for Edmonton-ar...