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- Thread starter Daveography
- Start date
policyenthusiast
Senior Member
Overall I would agree that this is good for the market, but I would flag that the "strong demand" is only mostly local. Per Canadian Real Estate Association stats, the home purchase inquiries in Edmonton come from:
980,000 Alberta
152,000 British Columbia
58,000 Ontario
Investor interest is good for sellers, but I imagine some buyers are annoyed about being out-bid by interprovincial buyers. Especially when many home purchases and the resultant price increases are used for money laundering, particularly in the drug trade. From OCCRP:
A British Columbia government expert panel estimated in 2019 that more than CA$7 billion in dirty money was laundered in the province in the previous year alone. As much as CA$5.3 billion of that was laundered through real estate, causing housing prices to increase about 5 percent.
David A
Senior Member
I'm not sure if the demand being supposedly being mostly local is a good thing or not. The Alberta numbers probably includes a number of out of town buyers that I wouldn't consider local.
Also, I don't feel we should stigmatize Ontario or BC buyers as laundering money, in reality most are either looking to relocate or for good investment opportunities.
Also, I don't feel we should stigmatize Ontario or BC buyers as laundering money, in reality most are either looking to relocate or for good investment opportunities.
mcr
Active Member
Back when I put my basement suite in in 2014, zone controls were not acceptable. It had to be a completely separate heating system (I went 2nd furnace, but baseboards or radiators were acceptable too)
policyenthusiast
Senior Member
I reached out to the province to find out for sure. They responded saying that shared furnaces can be made code-compliant, as long as the furnace is enclosed in a room with adequate fire protection and the air duct system is not interconnected with the other dwelling units (assuming it's approved by the local AHJ).
Mystery solved.
kcantor
Senior Member
I'm pretty sure that "as long as the furnace is enclosed in a room with adequate fire protection and the air duct system is not interconnected with the other dwelling units" would be more expensive than simply providing a separate furnace (or electric baseboard hearing) even if you could get that assumed approval from the local AHJ...
policyenthusiast
Senior Member
Agreed - but a separate furnace would still need a non-interconnected air duct system.
kcantor
Senior Member
I'm pretty sure a two unit, two furnace system would have no need to be interconnected...
policyenthusiast
Senior Member
Yes, which means you would need to build another air duct system that's completely detached. Both furnaces would also still need the same fire protection as one multi-zone furnace system.
Baseboard heating with forced air is absolutely cheaper to install, but it also racks up massive utility bills. I'm not sure there's a best solution.
kcantor
Senior Member
I'm not sure that the total amount of ductwork in the two completely detached systems would be more than the ductwork required for a split system and may even be less.
I'm also not sure that the "same fire protection as" would be more expensive as a small furnace in a utility room with the hotwater tank likely wouldn't be drastically larger than what would be required for the tank alone and would utilize the same door (assuming of course that the unit would have independent hot water and laundry).
TAS
Senior Member
$12million home listing
www.edmontonrealestate.pro
Gotta be one of the most expensive ever for Edmonton?
13804 Valleyview Drive Nw, Edmonton Property Listing: MLS® #E4406508
A signature residence 11,159 sq ft of total living space with 5 bedrooms, 6 baths, m/f office designed with attention to detail. Nestled on Valleyview Drive with sweeping river & city skyline views. A grand foyer opens to expansive living spaces engulfed in natural light, large windows frame the...
www.edmontonrealestate.pro
Gotta be one of the most expensive ever for Edmonton?
IanO
Superstar
That lot to the north of this site is a bit of a mystery as it was basically left to rot for a decade.
TAS
Senior Member
Found this posted on YYC site.
Housing development for August 2024
Housing development for August 2024
Avenuer
Senior Member
Those numbers are BANANAS, like we started more housing than any other city other than Toronto? And we weren't even that far behind them? Astronomical numbers
What's going on in Ottawa? Like nothing happening there in August...
What's going on in Ottawa? Like nothing happening there in August...
TAS
Senior Member
I think every month in 2024 we are leading the country in SFH construction.