IanO
Superstar
They came, so they built | The Twenty-Four
Housing starts set a record in Alberta in 2025
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- Thread starter Daveography
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ADob
Active Member
policyenthusiast
Senior Member
Mine is also a condo, up 30%. Depends on your area I suppose.
Greenspace
Senior Member
My condo is up about 5% but most of my friend's condos are down.
Yeggy
Active Member
Mine is only up 10% but i had a large jump last year.
Oilers99
Active Member
Edmonton has defied economic theory, huge influx of population over the last 5 years, no downtown condo projects or condo projects in general, and condo prices have gone DOWN.
northlands
Senior Member
^ 220k net new residents in the past four years and I don't think even 1% of that growth wound up downtown.
policyenthusiast
Senior Member
New MMI/CREA piece on making housing affordable through policy reform:
https://www.missingmiddleinitiative.ca/p/a-blueprint-to-restore-homeownership
https://www.missingmiddleinitiative.ca/p/a-blueprint-to-restore-homeownership
Yeggy
Active Member
Oilers99
Active Member
Tell that to all the people that own in fox, ultima, encore, etc.
David A
Senior Member
Yes this is a bit bizarre and hard to fathom, but I feel part of the reason for this was because the influx here happened as the condo boom in Canada was ending.
Oilers99
Active Member
There's always a justification from people on this. Fact remains this is a very bad sign on Edmonton infill.
David A
Senior Member
As I understand it, the rapid rise in interest rates seemed to put an end to a desire for condos more so than single family homes, which to me seems very odd as condos especially here, are much more affordable.
However, there does seem to continue to be some rental housing construction downtown in Edmonton as well as elsewhere. I'm not trying to justify the situation, just try make some sense of and explain it.
We may think we have it bad, but there are thousands of unsold condos in places like Toronto, because their building boom did not stop when interest rates increased by a lot. It is not just an Edmonton problem.
However, there does seem to continue to be some rental housing construction downtown in Edmonton as well as elsewhere. I'm not trying to justify the situation, just try make some sense of and explain it.
We may think we have it bad, but there are thousands of unsold condos in places like Toronto, because their building boom did not stop when interest rates increased by a lot. It is not just an Edmonton problem.
Oilers99
Active Member
No it is an Edmonton specific problem, when you have an influx of new residents and no new projects and prices decline. Ultima, Fox, Encore were all presold prior to the influx of new people. Westrich did not do another condo tower and Langham converted Falcon from condo to rental. I'm not sure how much more data people need to see, numbers do not pencil in Edmonton the way people think they do. Furthermore, downtown rental buildings have been very sluggish on absorption and new projects are not being green lit.
cmd uw
Active Member
You know they also build condos outside of downtown...and even then there is veeeeery little of that product.