New-home prices fall in Victoria, up in Canada
Filed Under Main Content · Tagged: Analyst Expectations, April, Greater Victoria, Housing Prices, London, New Homes, Oshawa, Previous Year, Regina, Rose, Statistics Canada, Times Colonist, Toronto, Victoria Canada, Windsor
Times Colonist- National new housing prices rose for the 11th straight month in May, advancing 0.3 per cent compared to the month before and in line with analyst expectations, Statistics Canada reported yesterday.
Prices slid, however, for new homes in Greater Victoria, which dropped 0.4 per cent in May from April, and down 3.9 per cent in May compared to the same month the previous year.
In the capital region, the number of unsold properties has reached 4,700 and sales slowed last month to 625.
Prices also fell month-over-month in Kitchener, Ont., down 0.8 per cent, Windsor, down 0.2 per cent and London, off 0.1 per cent.
Monthly gains were led by Regina, where prices advanced 3.4 per cent, and Toronto and Oshawa, where prices rose 0.7 per cent…
New-home prices fall in Victoria, up in Canada
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
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
Annual HST hit for average B.C. household is $521
Filed Under Main Content · Tagged: Amount Of Money, Bottom Line, Economics Professor, Harmonized Sales Tax, Household, Households, Hst, Married Couple, People, Sales Tax, Schuetze, Single Parents, Statistics Canada, Times Colonist, University Of Victoria
Times Colonist- The average B.C. household could take a hit of $521 to its bottom line next year as a result of the harmonized sales tax, according to a model prepared for the Times Colonist by Statistics Canada.
The change could range anywhere from $78 for households with single parents and one child to $801 for a married couple with no children, the figures show.
"There are certainly individuals and households that will feel the impact of this tax," said Herbert Schuetze, economics professor at the University of Victoria. "For example, if you are unattached and 65 years or older we’re talking about $262 a year. That’s a considerable amount of money for some people…"
