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Falling rent prices and rising vacancies indicate Edmonton is in the middle of a slump phase that is a good time to buy housing in advance of an eventual recovery, the report said.

“The fix-and-flippers, the HGTV-watching guys, it’s not the greatest market for them, because it’s a slower market and there’s lots of new products coming on line,” Campbell said in an interview.

“Edmonton is buy and hold. There’s opportunities for cash flow, there’s low mortgage rates … If you look at it from an investment market perspective, Edmonton will do very well.”

Photo by Linda_Mackie / Supplied

Calgary is listed as the second-best place to plunk down your real-estate dollars, while Leduc came third and Fort Saskatchewan was fourth.

Lethbridge, Okotoks, Red Deer, Medicine Hat, Airdrie and Lacombe made up the rest of the provincial top-10 list.

However, the report cautions that while there are opportunities for real estate investors in Alberta, they only apply to certain property types and locations.

“Although there are a few economic positive indicators beginning to rise, a solid and sustainable trend has not yet set itself in place.”

But Campbell ranked Edmonton as one of Canada’s top-10 markets to buy and hold real estate, unlike Toronto and his hometown of Vancouver, which are too expensive.

People thinking of buying single-family houses, condos or other types of homes in Edmonton should focus on newer structures because the price isn’t much higher than for older buildings, he said.

These would-be property owners should look for something with at least two bedrooms near the Valley Line or other LRT routes, he said.

Although he won’t predict how much prices might rise, he advises potential purchasers to stick to fundamentals.

“Buy something (that’s) going to carry itself. Don’t buy something expecting rents will skyrocket in the next couple of years. If you’re buying based on that, you’re speculating, not investing.”

gkent@postmedia.com

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