It’s More Expensive to Rent in Calgary Than Montreal

According to a report, Calgary has higher rental prices compared to Montreal.
Calgary ranked 13th in the country for avg monthly asking prices, with an avg of $1.7K.
Of the 12 cities ahead of Calgary, 11 are in Ontario and British Columbia, with Halifax being the exception.
Calgary is more expensive to rent in compared to some Ontario cities like Windsor and Sudbury.
Edmonton, on the other hand, has lower rental prices compared to smaller cities like Winnipeg and Saskatoon.
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Two more major Canadian banks begin offering first-home savings account

The First Home Savings Account (FHSA) program was launched earlier this year by the Canadian government to help more Canadians enter home ownership. Two of Canada’s Big Six banks, Scotiabank and TD Bank, are now offering the FHSA, a tax-free account that allows first-time home buyers aged 18-71 to save up to $40,000 for a down payment. The program has been met with overwhelming success, with more Canadians availing of the FHSA than expected.

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Demand and Rising Prices in Calgary’s Housing Market

Prospective buyers are finding themselves frozen out of the bidding process due to fierce competition, with many losing out on offers to unconditional cash buyers and quick closings. However, it is essential to remain realistic about the limited inventory and rising prices in Calgary’s housing market. Buyers need to be prepared and flexible in their strategies to increase their chances of success in this challenging market.

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House prices continue to rise in Airdrie

House prices in Airdrie have been steadily increasing according to the Calgary Real Estate Board (CREB). New listings remained comparable to last month while sales trended down, leading to a modest gain in inventory and a sales-to-new listings ratio of 84 percent. The unadjusted benchmark price rose by one percent to $514,100, pushing the detached benchmark price in Airdrie to over $600,000 for the first time. In Calgary, the detached benchmark price is currently $690,500. Events and job postings are also available.

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