New home prices rise surprisingly in August: Statistics Canada

The Vancouver Sun- New home prices edged up unexpectedly in August, led mainly by increases in Eastern Canada, Statistics Canada reported Wednesday.

Prices rose 0.1 per cent during the month, after declining 0.1 per cent in July, the federal agency said.

Economists had expected new home prices to decline by about 0.1 per cent in August.

The biggest monthly increases were in Hamilton, Ont. (up 0.9 per cent), Windsor, Ont. (up 0.4 per cent), and the Toronto and Oshawa, Ont., region (up 0.3 per cent)…

New home prices rise surprisingly in August: Statistics Canada

Victoria’s housing market improves

Times Colonist- Victoria, Vancouver and Abbotsford recorded increases in housing starts in August, with expectations that all three housing markets will remain positive, according to figures released yesterday by the Conference Board of Canada.

Vancouver showed a sharp increase and was ranked fifth of 27 metropolitan areas surveyed by the Conference Board.

"We expect more improvement in the next year," said economist Jane McIntyre, who wrote the report…

Victoria’s housing market improves

Home ownership costs to rise in Canada: RBC report

Vancouver Sun- 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 Tuesday 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 per cent, the standard townhouse inched up by 0.4 of a percentage point to 33 per cent, the standard condominium climbed by 0.5 of a percentage point up to 28.2 per cent and the standard two-storey home increased by 0.6 percentage points to 46.8 per cent…

Home ownership costs to rise in Canada: RBC report

Victoria primed for economic upswing

Times Colonist- Buoyed by increased construction activity, manufacturing output and a housing market that continues to show strength, Victoria is poised to see its economy grow 3.2 per cent in 2010, according to the Conference Board of Canada.

Vancouver topped all Canadian cities with expectations its economy, basking in the afterglow of the Olympic torch, would expand by four per cent this year.

"The Olympic Games provided a big, even if temporary, boost to retail trade, arts, entertainment and recreation, accommodation, and food services in Vancouver. All in all, the Olympics injected about $600 million into the Vancouver economy, lifting growth by about 0.8 percentage points," said Mario Lefebvre, director of the Conference Board’s Centre for Municipal Studies.

In its spring Metropolitan Outlook, the board noted construction activity in Victoria, which declined by 9.1 per cent in 2009, will drive the rebound as it is expected to bounce back with a 35 per cent increase in housing starts and continued commercial activity to drive construction growth to 3.1 per cent…

Victoria primed for economic upswing

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