A real estate magazine has chosen Red Deer’s Sunnybrook subdivision as one of the best investment neighbourhoods in the country.
Canadian Real Estate Wealth magazine is publishing a list of the 100 communities that it believes offer the best value to buyers and are most likely to escape a market price correction.
It based its selections on population, median price, growth, vacancy rates, crime, infrastructure and proximity to jobs, and also consulted with Realtors, mortgage brokers and investors.
The magazine made note of Red Deer’s central location between Calgary and Edmonton. It also quoted Mike Wiseman, a Red Deer Realtor and owner of True North Realty, as saying Sunnybrook may be experiencing “the most positive increase in home value” in the city.
Wiseman attributed this to the neighbourhood’s proximity to green spaces and walking trails, its safe traffic flows and the fact there’s an elementary school in the subdivision. He identified Mountview, which is near the trail system and downtown, as another good option for buyers.
Speaking to the Advocate on Tuesday, Wiseman said he considers Sunnybrook one of Red Deer’s most “up-and-coming neighourhoods,” and one that’s revitalizing quickly. He pointed out that property there is known to hold its value, and that many homes change hands without even being listed.
“That gives me an indication that people are willing to buy in that neighbourhood regardless of whether or not it’s getting the MLS exposure.”
Canadian Real Estate Wealth’s top 100 list will appear in the magazine’s November edition, which is expected to go on sale Oct. 22.
The list will also be presented at a Nov. 17 and 18 investor forum in Vancouver.
Wiseman doesn’t anticipate that the resulting national exposure will affect local buying patterns.
“I don’t think it’s really going to cause some sort of crazy buying spree in Sunnybrook.”
An official with Canadian Real Estate Wealth declined to disclose the composition of the list before the magazine is released.
But she did confirm that 10 of the neighborhoods included are located in Alberta.
A release issued by Canadian Real Estate Wealth also said that some obscure communities, such as Ardrossan, are on the list.
hrichards@www.reddeeradvocate.com
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