Avenue Magazine released Calgary’s Best Neighbourhoods for 2013 with Arbour Lake taking first place overall.
Criteria communities were judged by included best investment potential/resale value.
Unfortunately, to calculate this, Avenue simply looked at property assessments for 2012 and compared them to 2013. As noted in an earlier post, property assessments in no way accurately reflect market value. In that particular category, all Avenue Magazine essentially compiled are communities with the largest property tax increases due to increased assessed values.
Which areas performed the best in July on an annual basis?
Zone B comprised primarily of Northeast Calgary continued to show the largest price growth year-over-year in July in every category except for Apartments according to July’s MLS® HPI Summary Report. Zone C (mostly SW Calgary) had the best year-over-year change for Apartments at 9.37% followed closely by Zone D (mostly deep SE)
Top 5 Communities For Single Family Home Price Growth
(Year-over-Year Change, July 2013)
- North Haven Upper (+15.61%)
- Applewood (+14.12%)
- Rosemont (+13.95%)
- Castleridge (+12.87%)
- Penbrooke (+12.71%)
The number of communities that recorded negative price growth year-over-year stayed at 4 like the previous month. All were located in Zone C.
- Scarboro (-2.98%)
- Lakeview Village (-2.8%)
- Lower Mount Royal (-0.70%)
- North Glenmore (-0.22%)
To view all the communities along with different property type categories such as Apartment and Townhomes, along with time periods dating 1-6 months and 1-10 years back, download the HPI Summary Report July 2013
Remember, the HPI is for general price trends in each housing category while the Benchmark Price is just for the ‘typical’ home in that community as outlined in the Attribute Report.