Prices up, but may be at ‘plateau,’ report finds
Filed Under Main Content · Tagged: 1 Million, Asking Price, Capital Realty, Condominium, Condominiums For Sale, Condos, Economy, Geurts, Greater Victoria, Multiple Listing Service, Plateau, Real Estate Company, Royal Lepage, Second Quarter, Spokesman, Square Foot Condo, Times Colonist
Times Colonist- Prices moved up for Greater Victoria homes in the second quarter of this year, but the region’s high inventory is pushing down some parts of the market, a spokesman for real estate company Royal LePage said yesterday.
"Homes are generally selling below asking price, and significantly so in some condominium cases," said Carol Geurts of Royal
LePage Coast Capital Realty in Victoria.
"It appears prices may have reached a plateau for the moment, in that much of the price growth we expected for 2010 has already happened."
Condos in the lower end of the price range are most popular, while it can be more difficult to move those priced at $500,000 and up. "I think it goes back to the economy."
Yesterday, the Multiple Listing Service showed 1,001 listings for condominiums for sale in Greater Victoria. Of those, 28 were priced at $1 million and up, with the highest at $4.2 million for a 4,060-square-foot condo at Songhees…
Prices up, but may be at ‘plateau,’ report finds
Home ownership costs in Canada keep rising
Filed Under Main Content · Tagged: Average Household Income, Benchmark, Bungalow, Canada, Condominium, Economics Research, First Quarter, Home Ownership Costs, Housing Affordability, Interest Rates, Percentage Point, Percentage Points, Rbc, Rose, Straight Quarter, Townhouse
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
Home ownership costs to rise in Canada: RBC report
Filed Under Main Content · Tagged: Benchmark, Bungalow, Canada Vancouver, Condominium, Economics Research, First Quarter, Home Ownership Costs, Household Income, Housing Affordability, Interest Rates, Percentage Point, Percentage Points, Rbc, Rose, Straight Quarter, Townhouse, Vancouver Canada, Vancouver Sun
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
Home ownership costs to rise: Report
Filed Under Main Content · Tagged: Benchmark, Bungalow, Canada, Condominium, Economics Research, Economist, Exceed, First Quarter, Hogue, Home Ownership Costs, Household Income, Housing Affordability, Interest Rates, Peak Levels, Percentage Point, Percentage Points, Rbc, Rose, Straight Quarter, Townhouse
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 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.
Robert Hogue, senior economist at RBC said in the report that although home ownership became more costly in the first quarter of 2010, affordability is still below peak levels reached in early 2008 and is not expected to exceed those peaks…
