Vip condo brokers toronto review . The average property price in Canada soared 22.8 per cent last month to 620000 yuan. In January 2021, the average transaction price of properties across the country rose 22.8 per cent to 621525 yuan, and the transaction volume also rose sharply by 35.2 per cent year-on-year, compared with the 2 per cent monthly increase in December 2020.
In addition, new sales across the country rose 90.7 per cent in January, the highest on record; the last record was 81.5 per cent 19 years ago.
However, the Real Estate Association also said that if the highest property prices in the country, such as Greater Vancouver and Greater Toronto, are not included, the national average property price will fall by 129000 yuan in January, that is, the average property price will be 492525 yuan.
Data released on June 29th showed that US consumer confidence hit a 16-month high in June, while house prices rose the most in more than 30 years in April, as rising optimism in the job market during the restart period offset fears of rising inflation. House prices in 20 u.s. cities jumped 14.9%, the biggest increase since 2005 and higher than the median expected by economists.
The consumer confidence index climbed to 127.3 in June from 120.0 in May, rewriting the highest level since February last year, according to a new survey by the US Economic Advisory Chamber on the 29th. The survey showed good demand for durable goods such as cars and household appliances, suggesting strong economic momentum at the end of the second quarter.
Klachkin, a US economist at the Oxford Institute for Economic Research, said that the rebound in employment and increased savings will boost consumer confidence and encourage consumers to spend at a very rapid pace in the summer.
“after consumers have been locked up at home for more than a year, there are still many things to be happy about,” he said. “
Consumers are also keen to buy homes, showing that sluggish supply will continue to fuel the rise in house prices. Nationwide, the s & p CoreLogic case-Schiller house price index rose 14.6% from a year earlier, the biggest increase since 1988 and the 11th month in a row that house prices accelerated.
The composite index of 20 cities rose 14.9% from a year earlier, up from 12.9% the previous month.
House prices in all 20 cities rose from last year, with the biggest increases in Phoenix (22.3%), San Diego (21.6%) and Seattle (20.2%). Chicago (up 9.9%) had the smallest increase.
“the performance in April was really excellent.” Craig J. Lazzara, head of global index investment strategy at Standard & Poor’s Dow Jones Index, said, “We thought that part of the strength of the U.S. real estate market was due to people’s response to the COVID-19 epidemic, as potential buyers shifted from urban apartments to suburban homes. The April data are still in line with this assumption. “
Low mortgage rates and rising demand for suburban homes have boomed the US real estate market for more than a year, and the scarcity of housing has also contributed to the surge in house prices. Sales of second-hand homes in the country fell for the fourth consecutive month in May.
However, house prices are expected to remain high. Builders see high-priced materials, supply shortages and a shortage of skilled workers as ongoing challenges in building new homes.
“the forces that have pushed house prices to new highs over the past year still exist and show little sign of abating.” “the number of homes is still at an all-time low, especially given the rising demand for housing,” Zillow Group economist Matthew Speakman said in a statement.
Hope, deputy chief economist at CoreLogic, said potential buyers waiting for prices to cool are likely to stay on the sidelines for quite a long time.