small bites
Landscape Living Feature
How little tasks yield big results in the garden donna balzer A12
A13 FREE june 5 to june 11 2015 issue 05-21 editorial 403-781-1324 advertising 403-263-4940 crebnow@creb.ca
real estate news from industry experts
Construction Connection
Resale market impacting housing starts outlook Cody Stuart
managing editor
T
he sound of hammers has quieted in Calgary. Following a record-breaking year for new home construction in the city, the pace has slowed considerably in 2015. Through the first five months of year, the number of new homes starts in Calgary has numbered 3,954 – a 32.5 per cent drop from the same period in 2014. The decline was even more dramatic in April, with just 777 homes breaking ground during the month compared to 1,952 during the same time last year – a decline of more than 50 per cent. With continued uncertainty in the energy industry, Canada Mortgage and Housing Corp. (CMHC) isn’t predicting the number of new homes under construction in the city to increase anytime soon. “Positive net migration and low mortgage rates will continue to support housing demand in the Calgary region,” said Richard Cho, CMHC’s principal market analyst for Calgary. “However, increased economic uncertainty, coupled with rising existing home supply, will slow new home production through 2016. Following 2014’s record construction year, which saw 17,131 new homes added to the city, CMHC’s projections call for 13,200 in 2015 and just 11,500 in 2016. Calgary’s multi-family sector is predicted to see the largest declines, falling by 29.5 per cent in 2015 and 20 per cent in 2016. In the singledetached sector, starts are predicted to fall to 5,700 in 2015 – a drop of 12.2 per cent, with a smaller decline of just 3.5 per cent forecast for 2016.
construction A3
cody stuart, Managing Editor
3,714 MAY13 2,998 JUN13 2,725 JUL13 AUG13 2,773 SEP13 2,794 OCT13 2,521 NOV13 1,825 DEC13 971 JAN14 2,396 FEB14 2,711 3,319 MAR14 3,753 APR14 4,327 MAY14 3,817 JUN14 3,219 JUL14 3,147 AUG14 3,259 SEP14 2,919 OCT14 2,093 NOV14 1,381 DEC14 JAN15 3,288 FEB15 2,950 3,136 MAR15 3,064 APR15 3,161 MAY15
CITY OF CALGARY
MLS® NEW LISTINGS* MAY ‘13 – MAY ‘15
*All statistics based on monthly data compiled by CREB® via MLS® activity. Includes detached, attached and apartment.
Portion of cycle track pilot open to public
CMHC analyst Richard Cho said positive net migration and low mortgage rates will continue to support housing demand in the Calgary region.
contents news briefs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A3 five things. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A4
Property tax
municipal. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A6 The 1010 Centre
CREB® STAFF
pop the question. . . . . . . . . . . . . . . . . . . . . . . . . . . A7
A
MLS® statistics. . . . . . . . . . . . . . . . . . . . . . A8 – A9
Laura Parsons
stretch of Calgary’s cycle track pilot project has opened early to area cyclists. The 12th Avenue portion of the track, between 11th and Third streets S.W. opened June 2. With a grand opening slated for June 21, the network will also include tracks on Fifth Street S.W., Eighth Avenue S.W., Stephen Avenue and Ninth Avenue S.E.
transportaTion A3
mortgage rates. . . . . . . . . . . . . . . . . . . . . . . . . . A10 how to. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A14
Pest proof your yard
map . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B1 open houses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B23 @crebnow
/crebnow
RARE OPPORTUNITY FOR THIS SPECTACULAR 3130 SQ. FT. BUNGALOW PLUS A LOFT WITH FULLY FINISHED WALKOUT ON 1 TREED ACRE IN PRIDDIS WITH ATTACHED 4 CAR GARAGE.
$1,995,000
MLS®C4003356
Surrounded by beautiful trees backing onto the Priddis Golf Course in the Estate Area of Hawks Landing! Very Private and serene setting. Estate quality finishing thru out with solid hickory wood floors and amazing vaulted and cathedral ceilings etc. Loft over garage is perfect for a teenager or nanny. 4 car attached garage currently holding 5 cars with car lift. There is an excellent space on the land to develop a tennis court or swimming pool!
Judy Wagner 403-850-3436 real estate (Central)
crebnow.com