While the national housing price average soared 9.5 per cent higher than last year, Airdrie's prices have stayed relatively level.

The latest statistics released by the Canadian Real Estate Association show the national average leaping to $474,590 compared to $433,401 in September last year. In Alberta, prices remain well below average at $396,646, jumping only 3.9 per cent.

According to realtor with CIR Realty, Craig Bezjack, the national average is pretty far off the Airdrie market due to the oil industry's effects on Alberta's economy.

"We've been hit harder with our economy. The oil being below 50 bucks a barrel really hurts us more than the rest of Canada. You've got a lot of people out of jobs - less new buyers. Without people having jobs, you've got less buyers and less competition for the sellers which in turn reflects housing prices."

Bezjack added that Airdrie being so close to Calgary has a huge affect on our housing prices and buyers will get more "bang for their buck." He said a lot of people move to Airdrie from Calgary because the same house will cost roughly $50,000-$70,000 less.

With the new mortgage rules, Bezjack added that it's estimated we'll lose another 20 per cent of first time buyers but said this could possibly push housing prices lower.