December 2015

Found 2 blog entries for December 2015.

Prices for homes in Calgary that have been sold at least twice continued their slippery slide downward.

New figures released Monday by The Teranet-National Bank National Composite House Price Index show that residential home prices in our city dropped 1.2% from October to November of this year, and by 2% from November 2014 and 2.2% from October 2014.

This price index, just one of the various sales barometers in the industry, is determined by keeping track of observed or registered residential prices over a set period of time using information garnered from public land records and registries.  Any dwelling or residential property that has been sold twice at minimum is considered when this index is calculated.

Last month, data was collected

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Investors, take note.  Some recent changes to Calgary’s secondary suite regulations could mean that a downturn in this city’s housing market could be in your favour.  Especially if you’re looking at investing in a detached single-family home.

Just last month, city council voted on a motion to give a little when it comes to the regulations on lot size and to increase the allowable floor size for secondary suites.   Some homes will have the minimum lot width removed and some will have the minimum lot width to 9 metres, or 29.5 feet. 

The maximum size for a basement suite will also change, from the current 75 metres to 100 square metres, which is 1,076.4 square feet.

These changes come on the heels of earlier relaxations on secondary suite

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