CALGARY S MULTI-FAMILY MARKET

Transcription

1 CALGARY S MULTI-FAMILY MARKET

2 ALBERTA POPULATION & CRUDE OIL PRICE (USD) $120 $100 $80 $60 $40 $20 $ ,400,000 4,200,000 4,000,000 3,800,000 3,600,000 3,400,000 3,200,000 3,000,000 Alberta Population Avg Oil Price (USD) C A L G A R Y M A R K E T U P D AT E

3 1.67 Billion 2.29 Billion GLOBAL POPULATION IN CITIES : 1 MILLION C A L G A R Y M A R K E T U P D AT E

4 THE UA TAKE C A L G A R Y M A R K E T U P D AT E

5 $499,000 $385,000 $601,300 $474,100 $325,000 $885,587 $676,502 $490,500 $285,700 $209,649 $1,085,100 $1,749,766 BENCHMARK PRICE : DECEMBER 2017 Vancouver Toronto Calgary Edmonton Source: CREB, EREB, REBGV, TREB Single Family Townhome Condominium C A L G A R Y M A R K E T U P D AT E

6 WE'VE GOT THIS! CALGARY EDMONTON C A L G A R Y M A R K E T U P D AT E

7 CALGARY MARKET UPDATE MULTI FAMILY SALES

8

9 2,348 3,127 3,203 3,972 YEAR-OVER-YEAR SALES COMPARISON C A L G A R Y M A R K E T U P D AT E / M U LT I - FA M I LY S A L E S

10 QUARTERLY UNIT SALES

11 QUARTERLY UNIT SALES COMPARISON CONCRETE WOOD FRAME TOWNHOMES Q Q Q Q Q Q Q C A L G A R Y M A R K E T U P D AT E / M U LT I - FA M I LY S A L E S

12 EAU CLAIRE/WEST VILLAGE BELTLINE/EAST VILLAGE INNER NW INNER NE INNER SW INNER SE OUTER NORTH OUTER SOUTH AIRDRIE COCHRANE QUARTERLY SALES BY SUB-MARKET COMPARISON Q Q C A L G A R Y M A R K E T U P D AT E / I N N E R C I T Y V S. T H E S U B U R B S

13 DOWNTOWN AVERAGE PSF: $620 ACTIVELY SELLING PROJECTS: 15 STANDING INVENTORY: 156 UNITS C A L G A R Y M A R K E T U P D AT E / I N N E R C I T Y V S. T H E S U B U R B S

14 INNER CITY AVERAGE CONCRETE $PSF: $544 AVERAGE WOOD FRAME $PSF: $472 AVERAGE TOWNHOME $PSF: $400 C A L G A R Y M A R K E T U P D AT E / I N N E R C I T Y V S. T H E S U B U R B S

15 SUBURBS AVERAGE TOWNHOME $PSF OUTER NORTH: $253 OUTER SOUTH: $263 AVERAGE WOOD FRAME $PSF OUTER NORTH: $286 OUTER SOUTH: $317 C A L G A R Y M A R K E T U P D AT E / I N N E R C I T Y V S. T H E S U B U R B S

16 CHANGES

17 CHANGES YOUNG PROFESSIONALS DOWNSIZERS INVESTORS RESTARTS

18 RELEASED INVENTORY BY SUB MARKET Q Q W H E R E I S T H E I N V E N T O R Y?

19 Q Q Q Q Q Q Q Q Q Q STANDING INVENTORY W H E R E I S T H E I N V E N T O R Y?

20 CHALLENGES

21 STRESS TEST C H A L L E N G E S

22 RISING INTEREST RATES C H A L L E N G E S

23 OPPORTUNITIES

24 WHATS NEXT? DOWNTOWN PROJECT LAUNCH VICTORIA PARK REDEVELOPMENT POTENTIAL NEW ARENA? ECONOMIC GENERATORS O P P O R T U N I T I E S

25 DOWNTOWN CALGARY O P P O R T U N I T I E S

26 KEEP AN EYE ON COMMUNITY WALKABLE AMENITIES AGE IN PLACE SAFETY MASTER PLANNED COMMUNITIES O P P O R T U N I T I E S

27 CALGARY 5 TH MOST LIVABLE CITY EDUCATED SKILLED WORK FORCE EDUCATION & HEALTH CARE SAFE ACCESS TO NATURE NORTH AMERICA S SUNNIEST CITY O P P O R T U N I T I E S

28 CALGARY S PURPOSE BUILT RENTAL MARKET

29 PURPOSE BUILT RENTAL PROJECTS C A L G A R Y S P U R P O S E B U I LT R E N TA L M A R K E T

30 PURPOSE BUILT RENTAL PROJECTS C A L G A R Y S P U R P O S E B U I LT R E N TA L M A R K E T

31 NHSLIVE BY URBAN ANALYTICS C A L G A R Y S P U R P O S E B U I LT R E N TA L M A R K E T

32 DOWNTOWN CALGARY MARCH 2017: 51% LEASED JANUARY 2018: 96% LEASED AVERAGE NET RENT FOR CURRENT VACANCIES: $2.21 C A L G A R Y S P U R P O S E B U I LT R E N TA L M A R K E T

33 LOW RISE WOOD FRAME CONDOMINIUMS JULY 2017: 80% LEASED JANUARY 2018: 89% LEASED AVERAGE RENT $PSF: $1.66 C A L G A R Y S P U R P O S E B U I LT R E N TA L M A R K E T

34 LOW RISE WOOD FRAME CONDOMINIUMS $1.48 $2.17 $1.81 CALGARY $2.23 $1.73 $1.81 $1.62 C A L G A R Y S P U R P O S E B U I LT R E N TA L M A R K E T

35 CALGARY S RENTAL TRENDS 1 AMENITIES 2 PETS 3 PARKING 4 INCENTIVES C A L G A R Y S P U R P O S E B U I LT R E N TA L M A R K E T

36 1 AMENITIES

37 2 PET FRIENDLY OPTIONS

38 3 PARKING

39 4 INCENTIVES

40 LOOKING FORWARD NEW LAUNCHES BASE RENTS SUPPLY

41 EDMONTON S MULTI FAMILY MARKET

42 Q Q Q Q Q QUARTERLY UNIT SALES Q U A R T E R LY U N I T M U LT I FA M I LY S A L E S I N E D M O N T O N

43 QUARTERLY UNIT SALES COMPARISON BY TYPE Concrete Wood Frame Townhomes Q Q Q Q Q Q U A R T E R LY U N I T M U LT I FA M I LY S A L E S I N E D M O N T O N

44 HOT AREAS: SOUTHWEST AVERAGE CONCRETE $PSF: $375 AVERAGE WOOD FRAME $PSF: $273 AVERAGE TOWNHOME $PSF: $238 H O T A R E A S I N E D M O N T O N

45 HOT IN THE SOUTHWEST Q Q Q Q Q H O T A R E A S I N E D M O N T O N Concrete Wood Frame Townhome

46 HOT AREAS: DOWNTOWN AVERAGE DOWNTOWN CONCRETE $PSF: $643 AVERAGE STRATHCONA CONCRETE $PSF: $582 AVERAGE WOODFRAME CONDOMINIUM $PSF: $383 H O T A R E A S I N E D M O N T O N

47 HOT AREAS: ICE DISTRICT OCTOBER 2013 NW VIEW OF ICE DISTRICT IMAGE VIA EAC APRIL 2017 NW VIEW OF ICE DISTRICT IMAGE VIA EAC H O T A R E A S I N E D M O N T O N

48 LOOKING FORWARD: MARKET DOWNTOWN S EVOLUTION TALL TOWERS CONSIDERATIONS PARKING PEDESTRIAN FRIENDLY FAMILY FRIENDLY

49 PURPOSE BUILT RENTAL PROJECTS E D M O N T O N S P U R P O S E B U I LT R E N TA L M A R K E T

50 EDMONTON S RENTAL TRENDS 1 AMENITIES 2 PETS 3 INCENTIVES E D M O N T O N S P U R P O S E B U I LT R E N TA L M A R K E T

51 RENTAL ZONES IN EDMONTON OUTER (ANTHONY HENDAY) PROJECTS RENT $PSF: $1.51 PROJECTS: 47 ACTIVE: 5 FULLY LEASED: 42 E D M O N T O N S P U R P O S E B U I LT R E N TA L M A R K E T

52 RENTAL ZONES IN EDMONTON DOWNTOWN PROJECTS RENT $PSF: $2.07 PROJECTS: 12 ACTIVE: 3 FULLY LEASED: 9 E D M O N T O N S P U R P O S E B U I LT R E N TA L M A R K E T

53 LOOKING FORWARD: RENTAL MILLENNIALS RENTING OVER BUYING WHAT SETS YOU APART? AMENITIES ARE IMPORTANT OFFICE CONVERSIONS

54 THANK YOU! urbananalytics.ca