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Often called the “Gateway to the North,” Edmonton is Alberta’s capital and its northernmost metropolitan space. It serves as an entry level to the Northwest Territories and as a enterprise centre for the diamond mining and oil sands industries in northern Alberta. With a inhabitants of round 900,000 individuals, Edmonton is the second-largest metropolis within the province and the fifth-largest in Canada. It’s additionally an academic hub, with the College of Alberta, MacEwan College and the Northern Alberta Institute of Know-how (NAIT) all positioned inside metropolis limits. Edmonton can also be a cultural sizzling spot—the town hosts greater than 50 grassroots artwork, music and culinary occasions every year.
To simplify the duty of shopping for a house in Edmonton, MoneySense partnered with Zoocasa—a full-service tech brokerage—on a information to the town’s high neighbourhoods this 12 months, as a part of the 2022 version of The place to Purchase Actual Property in Canada. The neighbourhood rankings are based mostly on native actual property knowledge and present housing traits, Zoocasa crunched native actual property knowledge and regarded long-term traits to disclose the Edmonton neighbourhoods that provide the best worth and price-growth potential.
In case you’re trying past the Edmonton space, our information features a nationwide rating of cities and areas, in addition to data on the highest neighbourhoods in 12 different markets throughout Canada (view them by tapping or clicking on the menu above). The rankings are based mostly on knowledge collected on the finish of March 2022, and interviews had been carried out in March and April. Learn extra about our methodology.
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The place to purchase actual property in Edmonton
To view all the information within the desk, slide the columns proper or left utilizing your fingers or mouse. You may filter or rearrange the rankings through the use of the search instrument or clicking on column headings. You can too obtain the information to your machine by tapping on the Excel, CSV or PDF icons.
The way to learn the desk:
- Benchmark worth 2021: The composite benchmark worth as of Dec. 31, 2021. It represents all property sorts, together with connected and indifferent houses, townhouses/row items and house items. Examine how benchmark costs are calculated.
- 1-year, 3-year and 5-year development: The share improve or lower within the composite benchmark worth (all property sorts) over every time-frame.
- Worth, economics and accessibility: These neighbourhood traits are every scored on a scale of 5, with 5 representing essentially the most worth in your cash, excessive ranges of revenue and schooling, and ease of journey by foot, bike and public transit. To see how we decide these scores, learn our methodology.
- Youngsters: The neighbourhood’s share of households with children.
Why we’re watching Edmonton
Although power is the biggest employment sector and plenty of Canadians proceed emigrate to Edmonton to work on or across the oil patch, the town has many different thriving industries. Due partly to the College of Alberta and NAIT, its tech and analysis sectors are booming. It continues to have sturdy agriculture, monetary providers and manufacturing sectors, and due to the proximity of the Canadian Rockies, Edmonton additionally has a flourishing tourism trade. Town can also be a distribution level for CN railway and facilitates the movement of products throughout Canada.
Edmonton’s downtown core is present process a long-term revitalization course of that started in 2016, with roughly $750 million being put towards growth in housing, retail and transit.
The COVID-19 pandemic initially stunted development inside the downtown core. As hockey video games (Edmonton is house to the Oilers) and tourism had been halted, and plenty of residents transitioned to working remotely, fewer individuals had cause to spend time within the metropolis centre. Demand for downtown condos and residences fell. By the tip of March 2020, house gross sales had dipped 2.6% and new listings had dropped by 14% in comparison with March of the earlier 12 months.
Regardless of the decline brought on by the pandemic, actual property costs in Edmonton accelerated by 2021. By the tip of the 12 months, the benchmark worth of a house was $18,000 increased in comparison with the identical time in 2020, sitting at $337,983. The market has seemingly benefited from an uptick in new residents from exterior the province. Based on Statistics Canada, the second quarter of 2021 noticed the best variety of interprovincial strikes since 1991, and Alberta was one of many high locations.
Edmonton’s future actual property outlook
House costs in Edmonton skilled average development in 2021, however the benchmark worth didn’t fairly hit the file highs seen in different cities throughout the nation. The truth is, Edmonton’s house costs peaked again in June 2007, when the benchmark worth was $376,000. In February 2022, the benchmark worth was $348,900.