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Edmonton Most Builder-Friendly Market in Canada
Edmonton has been ranked the most builder-friendly city in Canada, according to a new report from the Canadian Home Builders’ Association (CHBA).
The study, conducted by Altus Group for the CHBA, found that Edmonton leads the country in terms of low fees, fast approval times, and efficient planning services.
“We can kind of toot Edmonton’s horn a bit,” Kalen Anderson, CEO of BILD Edmonton Metro, the local chapter of the CHBA, told Postmedia.
The Municipal Benchmarking 2024 Study found that Edmonton topped the list for the second time in a row, having also led in 2022. The study covered 23 major markets, including suburbs.
The report ranked Edmonton sixth for best planning features, fourth for approval times—averaging about three months—sixth for low-rise government fees, and second for high-rise fees. The ranking reinforces the city’s reputation among developers, according to Anderson.
“When we speak with developers and builders who work in multiple markets, they say that ‘Edmonton is the place we want to be,’” Anderson told Postmedia.
Despite record migration, Edmonton remains the most affordable major housing market in Canada for young families, according to the report. That finding has significant implications for Edmonton’s condominium market.
Developers have become quite cautious in their approach to condominium projects due to high prices and supply and low presales. In many cases, developers have chosen to convert condo projects to purpose-built rental developments that have not been able to secure sufficient construction financing.
The Realtors Association of Edmonton reported in February that the average home price, including condominiums, reached $449,554, up 10.5% year-over-year due to strong demand. Edmonton’s average price was well below the national average.
“As long as we can produce supply to keep pace with growth, we can keep high price growth in check,” Anderson told Postmedia.
Photo: City of Edmonton
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