With January's national price increase up 17% - how did Vancouver and Toronto contribute?

Home prices are posting eye-popping jumps across much of B.C.'s housing market, where prices have surged in some cases by more than 30% over the past 12 months alone.

Data released by the country's real estate association on yesterday shows average property values on resold homes in Greater Vancouver rising by 30.9% in January compared to the same month a year ago.

With inflating prices in the Lower Mainland and in southern Ontario, the national average price soared to 17%, but once you exclude the Vancouver and Toronto markets the national average was a much tamer 8%.

Housing markets reflected by the resource slump, like Calgary and other Prairie centres as well as areas in Atlantic Canada are feeling the strain with prices and sales under huge pressure.

If you exclude both Ontario and BC, average prices across Canada were actually down 0.3% in January.  It is quite something how only 2 Canadian centres can have such a stong influence on the our national average.

Benchmark home prices across B.C.'s Lower Mainland jumped nearly 20 per cent in January compared to Jan. 2015.


No comments

Post Your Comment:

Your email will not be published
Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.