House prices and sales to decline, market survey says
Filed Under Main Content · Tagged: Bungalow, Canada, Condominiums, Home Price Appreciation, House Price, House Prices, House Sales, Market Survey, Price Survey, Rose, Royal Lepage, Second Quarter, Times Colonist, Toronto, Vancouver
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
Vancouver leads house price growth
Filed Under Main Content · Tagged: Changes Over Time, Economists, House Price, House Prices, Housing Price Index, Index Measures, Leads, New Homes In Canada, New House, New Houses, Statistics Canada, Vancouver Sun
Vancouver Sun-Prices for new homes in Canada rose 0.3% in March, following a 0.1% increase the previous month and extending gains that began in July 2009, Statistics Canada reported Wednesday.
The March increase was in line with economists’ forecasts.
Statistics Canada said its new house price index was also up 1.6% in March from a year earlier, compared with an annual increase of 0.9% in February. “The growth in March was mostly due to higher prices in Vancouver,” the federal agency said.
The new housing price index measures changes over time in the selling prices of new houses…
Vancouver leads house price growth
Weights & measures
Filed Under Main Content · Tagged: Amp, Bank Financial Group, Banks, Economist, Economy, Harmonized Sales Tax, House Price, House Prices, Housing Market, July 1, Low Mortgage, Mortgage Rates, National Bank, Pinsonneault, Price Index, Sales Tax, Strategy Group, Teranet, Toronto Housing, Weights Measures
Financial Post-The days of exceptionally low mortgage rates are coming to an end as a number of banks announced higher fixed rates this week.
However, the higher rates may not immediately slow the Toronto housing market.
"I think that higher rates will be somewhat balanced by the fact that, in Toronto, people might rush into the market in order to beat the introduction of the harmonized sales tax [July 1]," says Marc Pinsonneault, senior economist, economy and strategy group, National Bank Financial Group.
Certainly, rising prices had not slowed the rush of buyers to the market in the early part of the year. This week’s Teranet-National Bank National House Price Index, which traces resale numbers, showed a 0.7% increase in house prices in Toronto in January, compared with the previous month. The year-over-year rise was 9.4%…
Resale home prices rise for seventh straight month
Filed Under Main Content · Tagged: Calgary, Composite Index, Halifax, House Price, Metropolitan Markets, Montreal, National Bank, Ottawa, Price Changes, Price Index, Repeat Sales, Resale Home, Resale Prices, Rose, Single Family, Teranet, Toronto, Vancouver
Financial Post- Canadian home resale prices rose for a seventh straight month in November on gains in all six major metropolitan markets surveyed, a report released on Wednesday says.
The Teranet-National Bank composite house price index, which measures price changes for repeat sales of single-family homes, showed overall prices were up 0.8% in November from October.
Vancouver led the gains, rising 1.9%, the only market to exceed the national average. Without Vancouver, the composite index would have been up 0.5%, the report said. Toronto and Calgary both recorded gains of 0.6% in November, followed by 0.4% increases in each of Halifax and Ottawa. Montreal posted the smallest rise, up 0.1%…
