Province
OTTAWA — Canadians’ seemingly endless appetite for buying and selling houses will continue the resale market’s “astounding momentum” from the second quarter through the end of 2007, says a report released yesterday.
The second quarter ended strongly, the report from Royal LePage Real Estate Services said.
The national average house price is expected to increase by 9.5 per cent, passing the $300,000 mark for the first time, to $303,300.
All regions are expected to enjoy the same growth conditions with average house prices hitting double-digit gains in Edmonton, Calgary, Winnipeg and Regina, according to the report.
“We continue to expect areas of aggressive price appreciation in the West and modest, mid-single digit price increases in Central and Atlantic Canada,” said Royal LePage CEO Phil Soper.
“The most profound story in Canadian real estate today is the extraordinary interest that people across our country continue to have in buying and selling homes.”
© The Vancouver Province 2007