Interest rates have been on steep upward trend in the past few months. The Bank of Canada has been hiking rates in an attempt to tame inflation, which is now at a 31-year high of 6.8%.

Rising interest rates affects all types of borrowing, but the biggest impact is on mortgages. In June, for example, the Bank of Canada raised rates to 1.5% from 1.0% and more increases could be coming.

So far, fixed five-year terms have been raised the most while variable-rate mortgages have remained more competitively priced, but that may change soon.

For homeowners who purchased properties during COVID-19 when rates were at historic lows, the difference in monthly payments could jump by nearly 50% in the coming years when those mortgages are up for renewal.

This is causing fear and anxiety among many homeowners. A new debt survey from Manulife Bank of Canada, for example, found that nearly one in four homeowners say they will have to sell their home if interest rates go up further.

On the flipside, rising interests rates historically tend to go hand-in-hand with a cooling housing market as purchasing budgets shrink. However, this time around there are additional factors at play including particularly low housing inventories.

Whichever side you fall on, experts are predicting that the current economic climate and rising interest rates will be a game-changer for Canada’s housing market.


New property listed in Zone 12, Edmonton

I have listed a new property at 1002 9923 103 ST in Edmonton. See details here

SPECTACULAR RIVER VALLEY VIEWS from this 1318 S.F, 2 Bedroom + Den, 2 bathroom unit in PRESTIGIOUS VALLEY TOWERS. Recent upgrades include a beautiful open kitchen with ample Maple cabinetry, Quartz Counters, Large walk in pantry, raised eating bar, under-mount lighting, ceramic back splash, stainless steel appliances, Engineered hardwood flooring, new fixtures, doors, baseboards, tiled floors in the bathrooms, laundry room & balconies. Modern paint tones, LED lighting, 2 BALCONIES, one off the LIVING ROOM & an enclosed balcony off the PRIMARY BEDROOM, both facing SOUTH with SPECTACULAR RIVER VALLEY VIEWS. Walk through closet in the primary bedroom with custom organizers & 3 piece ensuite. Underground parking, NEWLY RENOVATED AMENITIES AREA including pool, jacuzzi, steam room, exercise room, games room, social room, workshop, patio, visitor parking. Convenient location steps to, ICE DISTRICT, shopping, coffee shops, restaurants, transportation & quick access to the U of A & RIVER VALLEY PARKS...


New property listed in Zone 18, Edmonton

I have listed a new property at 5507 92A AVE in Edmonton. See details here

LOCATION, CONDITION & PRICE!!! The 3 main factors of the prefect piece of Real Estate are right here! This beautiful bungalow has many recent upgrades including Shingles, Kitchen, GRANITE COUNTERS, Stainless Steel Appliances, Luxury Vinyl Plank flooring, Fresh paint tones, Gas Fireplace Insert, Insulation, NEW TRIPLE PANE WINDOWS, ETC. 3 spacious bedrooms up & 1 down, 2 full baths, main floor family room, 2 fireplaces and in-law suite potential. The yard is a GARDENERS DREAM with multiple box gardens & flower beds, private south facing patio, large oversized single garage with heated workshop, RV parking, security cameras and a fully fenced private yard. It's all here including a short walk to St. Brendans School, shopping, public transportation, Kings University, Sherwood Park freeway, Anthony Henday and more...


The COVID-19 pandemic impacted so much of life from the way people work to expectations about workplace flexibility due to the pivot towards work-from-home. 

After more than two years of forgoing the office, many employees don’t want to return to long commutes and working away from their homes. Office occupancy rates are starting to creep back up, with some employers calling workers back. The work model, however, has fundamentally changed. 

And that has created a growing demand in the real estate niche of co-working spaces. Buying or leasing office spaces is a huge trend of 2022 as remote and hybrid work models look like they are here to stay. 

One of the world's largest shared office space providers, IWG, is a great example of this trend. The company has seen a 45% increase in the use of their co-working spaces at 130 locations across Canada. This is true in smaller towns and rural areas, as well as larger cities. 

As another example, the co-working business Collingwood Foundry saw a 200% increase in demand at their Toronto-based location and ended up purchasing more space, expanding significantly from 4,500 square feet up to 7,000 square feet. 

This spike in demand for co-working spaces certainly accelerated as a result of COVID-19, but it didn’t start there.  Desire for flexible workspaces has been growing at an average annual rate of 23% since 2010. 

In fact, the real estate analytics firm JLL predicts that co-working spaces could account for 30% of commercial office space by 2030. On the other hand, it wasn’t that long ago that the office-space start-up WeWork went off the tracks. 

So, what does this all mean for real estate? At the very least, it shows a growing market and new opportunities that could be of interest to some investors – but, like any investment, it’s not without risk.


New property listed in Zone 57, Edmonton

I have listed a new property at 7753 EIFERT CRES in Edmonton. See details here

Beautiful & Spacious Brookfield (1,487 SF) 2 Storey Half Duplex in desirable Edgemont. Open concept plan boasts a beautiful Kitchen with plenty of white cabinetry, quartz counters, tile backsplash & stainless steel appliances. Spacious Living Room and Dining Room combo. The second floor offers a large Primary Bedroom with large walk in closet & 4pc Ensuite, 2 additional Bedrooms, another 4pc Bathroom & generous Laundry Room. Basement is framed, has RIDP for additional bath, insulated & vapour barriered. Multiple options waiting for your personal touch. Private fully fenced landscaped yard with sun deck. Single Oversized attached garage. Central Air Conditioning, HRV, Hi Efficiency Furnace & Hot Water Tank. Smart home features for control locks, temperature, garage door and more! Close to shopping, restaurants, parks, playgrounds, schools, public transportation & walking trails. Minutes to the Anthony Henday & Whitemud Drive.


New property listed in Rural Sturgeon County, Rural Sturgeon County
I have listed a new property at 46 23516 TWP RD 560 in Rural Sturgeon County.
RARE OPPORTUNITY to own a piece of Paradise a few minutes to Edmonton. This beautiful and very private 2.01 Acres of rolling landscape with multiple tiered decks, majestic rock water fountain/stream feature leading to a wonderful fire pit area. Municipal water & Minutes to Bon Accord. Under 20 Minutes to the Anthony Henday. Peace and quiet await in this wonderfully located split level home. Nicely treed and landscaped this spacious home offers 3 bedrooms upstairs, formal living/dining combo with wood stove, kitchen with dinette area, 2 pc bath. Spacious primary bedroom features a 3 piece ensuite, large closet and 2 other generous bedrooms & 4pc bath. 3rd level Family Room with wet bar, a 4th bedroom/den and beautifully remodeled laundry room. Tremendous potential with a partially developed basement which includes a fourth bedroom and large storage area. 2 furnaces, newer hot water tank, newer shingles, oversized heated garage and much more!
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