Resale housing prices slip in capital region

Ottawa Citizen- Prices slipped across Ottawa’s resale housing market in the third quarter of 2010, eroding some of the city’s big post-recession gains in real estate values, a survey shows.

The Royal LePage survey of three housing types in six neighbourhoods released Thursday showed average prices falling or stagnant in 14 of 18 examples.

Three of the four examples that showed increases between the second and third quarters of 2010 were modest, $1,000 rises that brought the average price of a condominium apartment to $321,000 in central Ottawa, a two-storey house to $316,000 in south Ottawa and a bungalow to $296,000 in Orléans…

Resale housing prices slip in capital region

Victorians spending more than half of their income on home ownership costs

Times Colonist- The cost of owning a single-family bungalow in Greater Victoria climbed for the fifth consecutive quarter, says a new housing affordability report from the Royal Bank of Canada.

According to RBC Economics, ownership costs — the proportion of median pre-tax household income required to service the cost of mortgage payments, property taxes and utilities — for a single-family bungalow in this city in the second quarter hit 50.5 per cent of household income. That was considerably above the national average of 42.9 per cent…

Victorians spending more than half of their income on home ownership costs

House prices and sales to decline, market survey says

Times Colonist- House prices continued to climb higher across Canada in the second quarter of 2010, but sales and prices are expected to fall in the coming months, according to a Royal LePage House Price Survey and Market Forecast released Wednesday.

In the second quarter of 2010, the average price of a detached bungalow in Canada was up nine per cent to $331,868 compared to a year ago. Two-storey homes rose 8.7 per cent to $367,835 and condominiums rose 7.3 per cent to $230,014. Average prices in Vancouver were up 16.6 to 19.1 per cent for the month while prices in Toronto rose by an average of 7.7 to 11.4 per cent.

The survey said by the end of 2010, home price appreciation will average 6.8 per cent year-over-year nationally, while home sales will increase by just over one per cent compared to 2009…

House prices and sales to decline, market survey says

Home ownership costs in Canada keep rising

Times Colonist- Home ownership costs in Canada rose for the third straight quarter in early 2010, and those costs are going to get higher as interest rates rise this year, according a housing report released this week by RBC Economics Research.

The RBC Housing Affordability measure, which identifies how much pre-tax household income is needed to own a home, rose nationally across all housing types in the first quarter of 2010. The detached bungalow benchmark measure rose by 0.9 of a percentage point to 41.1% of average household income, the standard townhouse inched up by 0.4 of a percentage point to 33%, the standard condominium climbed by 0.5 of a percentage point to 28.2% and the standard two-storey home increased by 0.6 percentage points to 46.8%…

Home ownership costs in Canada keep rising

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