Kylmore Angus Glen South Village . Property prices rose 17% to 607000 pounds. Residential sales in the country rose 47 per cent in December from a year earlier, with average prices rising 17 per cent, according to a report by the Canadian real estate association.Please Visit: Kylmore Angus Glen South Village to Get Your VVIP Registration Today!
Home sales also set a new record in 2020. National housing sales in December 2020 increased by 47.2% over December 2019, the largest year-on-year increase in monthly sales in 11 years.
Sales in December also rose 7.2 per cent from November, the sixth consecutive month of year-on-year growth, after the key home sales season from March to May stagnated due to a blockade of the epidemic.
Douglas Porter, chief economist at Mandike Bank, said the strong sales momentum showed that the housing market was driven by a wide range of overall factors rather than local economic factors. Specifically, last year’s interest rate cuts and epidemic-driven escalation boosted the market as a whole.
According to the China Association of Real Estate agents, a total of 551392 homes were sold in 2020, an increase of 12.6 percent over 2019 and a new annual record.
In terms of house prices, the national average house price reached a record 607280 yuan in December 2020, up 17.1% from the last month of 2019. Excluding the two most active and expensive markets, Greater Vancouver and Greater Toronto, average house prices across the country have fallen by about 130000 yuan, CREA said.
The biggest increases last month were in Ontario, including Belleville, Simco, Ingersoll, Woodstock and Lecklands, where prices were more than 30 per cent higher than in December 2019.
Sean Cathcart, chief economist of CREA, said in a statement that fewer than 100000 homes were listed for sale nationwide in 2021, the lowest level in 30 years since the CREA system was recorded. In the same period five years ago, about 250000 houses were put up for sale.
Housing demand is historically high and supply is historically low, so the near-term direction of the market will depend on the number of homes listed in the coming months, he said.