By Josh Skapin, Calgary Herald April 27, 2012
In another sign of the strengthening Calgary housing market, growing buyer interest in high-end luxury homes is joining an overall increase in housing construction, say builders.
The first three months of 2012 saw a rise in construction starts of single-family homes, including a 70-per-cent climb in March compared to the same span last year, says Canada Mortgage and Housing Corp.
At the same time, Calgary’s luxury builders say they have seen buyers return to higher-end homes.
“There has been a tremendous amount of activity,” says Allan Klassen, president and managing partner at Albi Homes.
There are a significant amount of buyers for homes that cost more than $1 million, he says, adding there’s been strong interest in amenities such as ponds and eye-catching views.
Larry Thomson, co-owner of Calbridge Homes, has also seen an improvement compared to last year, including an estimated 25-per-cent increase in sales of its luxury houses.
In particular, Thomson says Calbridge has seen an increased demand in luxury villas.
“We’ve been very strong,” he says. “We like what we’ve been seeing.”
While the market hasn’t returned to where it was in 2006, Klassen sees the first three months of this year as a positive.
“There seems to be a little bit more confidence creeping in,” he says. “I think with the inventory level — the moderate level that it’s at — that’s giving all consumers, luxury and others a little bit more confidence to move forward.”
Thomson agrees, adding that he sees the trend continuing into next year.
“We think that it will continue to carry momentum going into 2013,” he says. “I think we’re going to be strong.”
Read more: http://www.calgaryherald.com/business/High+demand+grows+city/6530155/story.html#ixzz1tY453ycv
The first three months of 2012 saw a rise in construction starts of single-family homes, including a 70-per-cent climb in March compared to the same span last year, says Canada Mortgage and Housing Corp.
At the same time, Calgary’s luxury builders say they have seen buyers return to higher-end homes.
“There has been a tremendous amount of activity,” says Allan Klassen, president and managing partner at Albi Homes.
There are a significant amount of buyers for homes that cost more than $1 million, he says, adding there’s been strong interest in amenities such as ponds and eye-catching views.
Larry Thomson, co-owner of Calbridge Homes, has also seen an improvement compared to last year, including an estimated 25-per-cent increase in sales of its luxury houses.
In particular, Thomson says Calbridge has seen an increased demand in luxury villas.
“We’ve been very strong,” he says. “We like what we’ve been seeing.”
While the market hasn’t returned to where it was in 2006, Klassen sees the first three months of this year as a positive.
“There seems to be a little bit more confidence creeping in,” he says. “I think with the inventory level — the moderate level that it’s at — that’s giving all consumers, luxury and others a little bit more confidence to move forward.”
Thomson agrees, adding that he sees the trend continuing into next year.
“We think that it will continue to carry momentum going into 2013,” he says. “I think we’re going to be strong.”
Read more: http://www.calgaryherald.com/business/High+demand+grows+city/6530155/story.html#ixzz1tY453ycv
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