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Tag Archives: metropolitan regions

Canada new-home prices rise again in February

April 21, 2011   General Real Estate, National Real Estate, New Toronto Condos & Lofts

* Prices rise 0.4% from Jan­u­ary
* Royal LeP­age shows prices up 4.3% on year

Ran­dall Palmer and Ka Yan Ng – Reuters

New home prices in Canada advanced 0.4% in Feb­ru­ary from Jan­u­ary, Sta­tis­tics Canada said on Tuesday.

The gain exceeded mar­ket expec­ta­tions of a 0.3% climb fol­low­ing January’s 0.2% rise. Prices were up in 11 met­ro­pol­i­tan regions, down in four and flat in six.

Year on year, prices were 2.1% higher, up from 1.9% in January.

Sta­tis­tics Canada has reported monthly increases from August 2010 through Feb­ru­ary, though a revi­sion of its series of data now has Octo­ber 2010 as hav­ing no change.

Sep­a­rately, real estate bro­ker Royal LeP­age said low inter­est rates and a recov­er­ing econ­omy con­tin­ued to fuel the Cana­dian res­i­den­tial hous­ing sec­tor over the past year.

In the first quar­ter, the aver­age price of a detached bun­ga­low was up 4.3% at $341,355 from a year ear­lier, the sur­vey of more than 250 neigh­bor­hoods across the coun­try showed.

Over the same period, stan­dard two-storey homes rose 3.5% to $379,388 while stan­dard con­do­mini­ums rose 4$ to $237,919.

“Canada’s real estate mar­ket has main­tained momen­tum com­ing out of 2010, indi­cat­ing that the post-recession recov­ery is con­tin­u­ing,” said Phil Soper, chief exec­u­tive of Royal LeP­age Real Estate Services.

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Con­tact the Jef­frey Team for more infor­ma­tion – 416−388−1960

Lau­rin & Natalie Jef­frey are Toronto Real­tors with Cen­tury 21 Regal Realty.
They did not write these arti­cles, they just repro­duce them here for peo­ple
who are inter­ested in Toronto real estate. They do not work for any builders.
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