Magazine names North Red Deer in its Top 100 Neighbourhoods for 2013

A national real estate magazine that compiles an annual list of the best neighbourhoods in Canada has given North Red Deer a thumbs-up. Canadian Real Estate Wealth Magazine has included the area in its Top 100 Neighbourhoods for 2013. The publication said that North Red Deer provides good opportunities for investors, thanks to relatively low home prices and rock-bottom vacancy rates that combine to give landlords an attractive rate of return.

A national real estate magazine that compiles an annual list of the best neighbourhoods in Canada has given North Red Deer a thumbs-up.

Canadian Real Estate Wealth Magazine has included the area in its Top 100 Neighbourhoods for 2013. The publication said that North Red Deer provides good opportunities for investors, thanks to relatively low home prices and rock-bottom vacancy rates that combine to give landlords an attractive rate of return.

The magazine also commented on the current strength of industries in the Red Deer area, and the city’s role as a central distribution centre for much of Alberta.

“From agriculture to petrochemical industries, the region continually attracts a high rate of migrant workers keen to capitalize on higher wages and lower tax rates,” said an article in the November edition of Canadian Real Estate Wealth Magazine.

“This year alone, home-start construction is up 32 per cent as more temporary workers settle into the area.”

The youthful age of city residents and Air Canada’s recent introduction of scheduled passenger service out of the Red Deer Airport were also cited as positives.

The magazine said the average house price of homes in North Red Deer was $314,860. With rents averaging $1,500, investors can expect an annual cash flow of about $5,472, it added. Price growth was projected at 4.13 per cent.

Ken Devoe, president of the Central Alberta Realtors Association, agreed that North Red Deer appeals to many renters. Some want to live close to Hwy 2 and Hwy 11, and with commercial and industrial development in the area and along Hwy 2, there are plenty of workers looking for nearby accommodation.

“If you work in one of the industrial areas you’re looking at a five-minute commute, as opposed to a 15- to 20-minute commute if you live in the south end,” said Devoe.

“As an investment property, it’s going to be good for rental.”

Housing prices in North Red Deer subdivisions like Kentwood and Johnstone Park are lower than in neighbourhoods in the south side of the city, he added. That gives landlords there a higher return on investment.

“Prices definitely are cheaper on the north end.”

Young families are also attracted to the area because of its price advantage, said Devoe.

Canadian Real Estate Wealth Magazine said in a release that its list was compiled on the basis of population, median price, price growth, vacancy rate, capitalization rate, infrastructure, investment cash flow and local economic conditions.

This is the second year that the magazine has published a Top 100 Neighbourhoods list. In 2012, Red Deer’s Sunnybrook subdivision was among the areas chosen for their investment appeal.

Among the factors cited for Sunnybrook’s inclusion was the price of homes and low vacancy rate there, as well as the availability of walking trails and green spaces, safe traffic flows, and the subdivision’s proximity to workplaces.

Canadian Real Estate Wealth Magazine’s list of the Top 100 Neighbourhoods for 2013 can be found in its November issue, which is scheduled to hit newsstands on Monday. Details will also be presented Oct. 5 and 6 at the Canadian Real Estate Wealth Investor Forum in Vancouver.

hrichards@bprda.wpengine.com

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Lyn Radford, 2019 Canada Winter Games board chair, was named 2020 Sport Event Volunteer of the Year at the Prestige Awards. (File photo by Advocate staff)
WATCH: Lyn Radford wins award for volunteer efforts

The board chair of the 2019 Canada Winter Games in Red Deer… Continue reading

A health-care worker prepares a dose of the Pfizer-BioNTech COVID-19 vaccine at a UHN COVID-19 vaccine clinic in Toronto on Thursday, January 7, 2021. THE CANADIAN PRESS/Nathan Denette
Red Deer dips below 300 active COVID-19 cases

The number of active COVID-19 cases in Red Deer continued to drop… Continue reading

A candlelight vigil will be held in Red Deer on Thursday to honour the 350-plus people killed in the Easter bombing attack in Sri Lanka. Contributed photo
Candlelight vigil planned for deaths linked to Olymel COVID-19 outbreak

A candlelight vigil is being planned for those who died due to… Continue reading

Red Deer Rebels forward Jaxsen Wiebe battles Calgary Hitmen forward Cael Zimmerman for a loose puck when the two teams squared off in February last season. (Photo by BYRON HACKETT/Advocate Staff)
Calgary Hitmen shutout Red Deer Rebels

Rebels name centre Jayden Grubbe team captain ahead of Friday’s game

Bryson, six, and Mara, eight, play with puppies from Dogs With Wings Saturday. (Photo by Sean McIntosh/Advocate staff)
WATCH: Dogs With Wings introduces Red Deer program

A program that trains puppies to be certified service, autism, facility and… Continue reading

Walter Gretzky father of hockey hall-of-famer Wayne Gretzky waves to fans as the Buffalo Sabres play against the Toronto Maple Leafs during third period NHL hockey action in Toronto on Tuesday, January 17, 2017. THE CANADIAN PRESS/Nathan Denette
Funeral for Walter Gretzky to be held Saturday in home town of Brantford, Ont.

The funeral for hockey legend Wayne Gretzky’s father Walter will take place… Continue reading

A sign for the Canadian Security Intelligence Service building is shown in Ottawa on May 14, 2013. A newly released audit report shows that difficulties with the judicial warrant process at Canada's spy agency — an issue that made headlines last summer — stretch back at least nine years. THE CANADIAN PRESS/Sean Kilpatrick
Spy warrant shortcomings stretch back almost a decade, newly released audit shows

OTTAWA — A newly released audit report shows that difficulties with the… Continue reading

In this file photo, a lotto Max ticket is shown in Toronto on Monday Feb. 26, 2018. (By THE CANADIAN PRESS)
No winning ticket for Friday night’s Lotto Max jackpot

TORONTO — No winning ticket was sold for the estimated $29 million… Continue reading

A trial countdown sign marks the days at George Floyd Square, March 4, 2021, in Minneapolis. Ten months after police officers brushed off George Floyd's moans for help on the street outside a south Minneapolis grocery, the square remains a makeshift memorial for Floyd who died at the hand of police making an arrest. The trial of former Minneapolis police officer Derek Chauvin will begin with jury selection on March 8. (AP Photo/Jim Mone)
Officer’s trial could reopen intersection where Floyd died

MINNEAPOLIS — During a group’s recent meeting at the now-vacant Speedway gas… Continue reading

FILE - In this Aug. 30, 2020 file photo Portland Police Chief Chuck Lovell calls for an end to violence in the city during a news conference a day after a demonstrator was shot and killed in downtown Portland. Amid protests following the police killing of George Floyd last year Portland dissolved a special police unit designed to focus on gun violence. Critics say the squad unfairly targeted Black people, but gun violence and homicides have since spiked in Oregon's largest city, and some say disbanding the 35-officer unit was a mistake. (Sean Meagher/The Oregonian via AP, File)
As violence surges, some question Portland axing police unit

PORTLAND, Ore. — Elmer Yarborough got a terrifying call from his sister:… Continue reading

Harley Hay
Harley Hay: Just don’t call it cod liver oil

Many people swear that a daily dose of various vitamins is an… Continue reading

Email editor@auburn-reporter.com
Letter: Preserving green spaces in Red Deer

The Advocate published an article Feb. 11 about Sunnybrook residents concerned about… Continue reading

Former Toronto Argonauts lineman Chris Schultz remembered as a gentle giant

Former Toronto Argonauts lineman Chris Schultz remembered as a gentle giant

Most Read