Average Price of Home to Increase 6.1 per cent This Year: Royal LePage
Home prices in Toronto and Vancouver are on pace to increase nearly 10 per cent in 2015 while Calgary’s are falling less than expected, meaning the nationwide average price should grow 6.1 per cent this year, according to a new forecast from Royal LePage.
The Royal LePage House Price Survey and Market Survey Forecast analyzed sales in 90 markets during the second quarter of this year and found that prices increased year-over-year by 7.5 per cent to $438,938 for a detached bungalow, 6.8 per cent to $471,002 for a standard two-storey house and 3.9 per cent to $268,583 for a standard condominium.
Royal LePage president Phil Soper said the second-quarter averages were heavily influenced by Toronto and Vancouver, which have “prosperous labour markets driving demand for housing that is in limited supply.”…………
Josh Dehaas, CTVNews.ca
Published Tuesday, July 14, 2015 6:05AM EDT
Last Updated Tuesday, July 14, 2015 11:29AM EDT
