Festival condos release date. Canadian house prices rose by 17%! The survey found that house prices in Canada are 46% higher than those in the United States, taking into account purchasing power and exchange rate factors.Please Visit: Festival condos release date to Get Your VVIP Registration Today!
Porter points out that this is well above the historical average of about 6 per cent and is already twice the share of the US housing market.
Some possible factors contributing to the gap include faster population growth in Canada, slightly lower mortgage rates and a larger proportion of the population concentrated in the largest and most expensive cities.
However, Porter believes that the main reason is: “A more fundamental answer may be that, in general, Canadians have made a collective choice to allocate more wealth resources to housing (and therefore ‘consume’ more) than other countries.”
In other words, Canadians pay more for housing because we are willing-because it is worth it to Canada.
According to the Canadian Real Estate Association, the national property market hit a new high in December. Sales in December 2020 were 47% higher than in December last year. The average market price rose 17% in 2020, with a median of $607280. Throughout the past 11 years, these figures have reached new highs. The dividend between November and December was mainly due to an increase of 7.2% in the Greater Toronto and Greater Vancouver areas, while December’s dividend was mainly due to an unprecedented change of hands of more than 12000 times.
In the past six months, almost all the real estate market across the country has shown an upward trend compared with the same period in 2019. Nearly 552000 homes have changed hands, and sales are up 12.6% from 2019 and 2.3% from 2016, with 2016 being the highest in the past 11 years, according to MLS (MultipleListing Service). The average price in December was $607, up 17.1% from December 2019.
At the same time, CREA (Canadian Real Estate Association) added: excluding the two hottest markets mentioned above, the average housing in other regions is relatively low, which means it has pulled down $130000. The December dividend came mainly from booming markets in Belleville, Simcoe, Ingersoll, Woodstock and Lakelands, Ontario, where house prices were 30 points higher than in the same period in 2019. House prices in Calgary and Edmonton rose relatively modestly, at 1.5 per cent and 2.7 per cent, respectively.