Airdrie's south west side one of Canada's top 100 communities
For the second year in a row, the south western edge of Airdrie has been counted as one of our country’s top 100 investment bets for 2016 by Canadian Real Estate Wealth.
The industry magazine has released its top 100 findings every year since 2011 and Airdrie’s south side also made the 2015 edition.
Twelve communities in Alberta made the list of real estate investment prospects, making our province the third most popular Canadian region for investing in real estate, down from the second spot last year. Magazine publisher, KMI Media Ltd of Toronto, issued a statement indicating that Alberta’s current economic downtown caused the drop. All things considered, Alberta is still doing well and those communities which made the top 100 did so because of diversified industry in the community. With a mix of agricultural and non-oilfield related industries such as transportation and logistics, Airdrie managed to stay on the list for the second year running.
Canadian Real Estate Wealth magazine uses stats amassed by the Teranet National Bank House Price Index. These figures measure annual growth of real estate prices from August to August. Then, in consultation with real estate investors and local agents on the ground in the identified regions, market analysts develop a prospect list.
Other criteria include population growth and development of infrastructure and community amenities such as transit, schools, shopping and recreational centres.
Airdrie professionals who participated in gathering top 100 criteria noted that from August 2014 to August 2015, the population of Airdrie grew by 7%. Historically, the population of Airdrie has been steadily rising, even when economic activity takes a dip. The 2015 population of Airdrie currently sits at just under 60,000.
The average price of a home in Airdrie is $395,000 which is lower than Calgary’s average. The vacancy rate of 1.2% is attractive to investors anxious to find tenants for their properties. The average monthly rent in Okotoks is $1,550.
Airdrie typically appeals to home buyers who are searching for extra value for their home-buying dollar. The South West corner of Airdrie is accessible via Yankee Valley Blvd and is within sight of the City of Calgary. New communities include:
- Windsong
- Southwinds
- Hillcrest
- Morningside
- Cooper’s Crossing
- Bayside
- Luxstone
Despite rapid development in this corner of Airdrie, the city has been able to keep up with amenities such as schools, recreational facilities and shopping centres. Chinook Winds Regional Park is a 55-acre outdoor facility with a playground, skate park, spray park, toboggan hill, hockey rinks, baseball diamonds, volleyball courts and a concession. It’s connected to Airdrie’s vast pathway system which connects every community to the downtown arts and culture district.
Heron’s Crossing School is just one of the new schools in South West Airdrie. With nearly 40,000 children in Calgary riding school buses every day, Airdrie’s new schools serving most new neighbourhoods give the city high marks with local families.
A new shopping district on Yankee Valley Blvd offers shops, services, restaurants and theatres on par with those available in the city.
The complete results were published in the Nov/Dec issue of Canadian Real Estate Wealth Magazine with precise details on property types in each community.