Real Estate in Canada in 2014

January 9, 2014 8:34 am
Royal LePage sees ‘no slowdown’ in housing this year

By Staff The Canadian Press


Royal LePage sees sellers continuing to benefit from rising home prices this year.
Getty Images
TORONTO – The latest Royal LePage housing survey shows average price of a home in Canada increased between 1.2 per cent and 3.8 per cent in the fourth quarter of 2013.

It says the average cost of a standard two-storey home rose 3.6 per cent year-over-year to $418,282, while detached bungalows went up 3.8 per cent to $380,710.

Royal LePage says the price of a standard condominium rose 1.2 per cent during the quarter to an average of $246,530.


Condo market braces for period of ‘turbulence’
Hot year for real estate sales
READ MORE: Paying for the boom — an in-depth look at housing markets across the country

The real estate company says prices are expected to maintain a ‘‘healthy momentum‘‘ this year and rise a projected 3.7 per cent over 2013.

CEO Phil Soper says late 2013 saw the housing market transition to ‘‘buoyant sales volumes‘‘ and above-average growth.

He says that in the absence of ‘‘some calamitous event or material increase in mortgage financing costs,‘‘ he expects positive momentum to characterize 2014.

“We predict continued upward pressure on home prices as we move towards the all-important spring market.‘‘ he said.

“Talk of a ‘soft landing’ for Canada’s real estate market in the new year is misguided,‘‘ continued Soper.

‘‘We expect no landing, no slowdown, and no correction in the near-term. Conditions are ripe for as strong a market as we saw in the post-recessionary rebound of the last decade.”






Key takeaways for Canada’s housing market in 2014

Condo market braces for period of ‘turbulence’

Bank of Canada lays out possible housing downturn scenario

As home sales climb, Bank of Canada still sees ‘soft landing’

Re/Max sees ‘exceptionally healthy’ housing market next year

Home sales in 2013 will outpace 2012: CREA

INFOGRAPHIC: Calgary real estate market red hot in 2013

Canadians reaching limit on how much they can borrow: bank CEOs

For sale in Montreal: Under $100,000

Looking to rent a place in Edmonton? Get in line



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