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Edmonton New Home Builders - Trends and Market Updates • 18 December 2023

Navigating the New Landscape: How Canada’s Energy Efficiency Regulations are Reshaping Edmonton’s Real Estate Market

by Christina Reid
Edmonton-net-zero-new-construction-homes-initiative

Edmonton’s real estate market is poised for significant changes with the introduction of the Canadian government’s new ‘energy efficiency’ regulations. These regulations are part of a broader effort to decarbonize the building sector as Canada moves towards its emissions reduction goals by 2030. Here’s how these changes may impact home prices in Edmonton:

  1. Increased Costs: The new federal regulations aimed at enhancing energy efficiency in buildings are expected to push housing prices higher in Alberta, including Edmonton. This is due to the additional costs associated with making new and existing homes more energy-efficient​​​.
  2. Government Initiatives: It’s important to note that the government is also taking steps to address housing availability and affordability. Canada’s Housing Action Plan, for instance, involves utilizing government-owned real estate for building more home​​s.
  3. Energy Efficiency Mapping: In Edmonton, energy efficiency mapping initiatives like the one conducted by Lightspark provide insights into the energy efficiency of thousands of homes. This could influence buyer preferences and potentially impact the value of more energy-efficient properties​​.
  4. Market Outlook: The overall market outlook for Canadian real estate in 2023 indicates that if home prices fall more than expected, it could impact household wealth and spending. This underscores the importance of monitoring market trends in the face of these new regulation​​s.

While the new energy efficiency regulations are set to increase the cost of homes in Edmonton, they are part of a larger, environmentally focused initiative. Prospective buyers and sellers in Edmonton should stay informed about these changes and consider the long-term benefits of energy-efficient properties.

START YOUR SEARCH FOR AN ENERGY EFFICIENT HOME NOW! CLICK HERE TO BEGIN.

 

🌐 Sources

fraserinstitute.org – Ottawa’s New ‘Energy Efficiency’ Regulations will Increase Home Prices in Alberta

energynow.ca – Ottawa’s New ‘Energy Efficiency’ Regulations will Increase Home Prices in Alberta

canada.ca – Canada’s Housing Action Plan

cbc.ca – New Maps Estimate Energy Efficiency for Thousands of Homes in Edmonton

cbre.ca – 2023 Canada Real Estate Market Outlook

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