House prices continue to increase across Canada
Canadian Press
TORONTO — Canada’s real estate market got off to a strong start in 2007 with average prices rising in all major markets, according to Royal LePage Real Estate Services.
It says a combination of consumer confidence, moderately low interest rates and improved affordability led to greater sales in the first quarter.
It says the highest average price appreciation was in standard condos, which rose 16.3% to $230,146 year-over-year.
Detached bungalow prices rose 14.9% to an average $316,993 and standard two-storey properties increased 11.8% in price to $378,148.
Fuelled by the energy sector, Alberta’s economy continued to show extremely high price appreciation and that spilled over into Saskatchewan. Year-over-year condo prices rose 72.1% in Edmonton, 38.9% in Calgary and 42.9% in Saskatoon.
It says more moderate increases were noted in the central and eastern regions of the country.
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