Real Estate Prices Canada

Canadian Home Prices Grow Faster Than All But 2 Countries: Study

The Huffington Post Canada | Jesse Ferreras | Posted 09.12.2016 | Canada Business

And guess which city tops the world.

Alberta's Woes Will Boost T.O., Vancouver House Prices: Report

The Huffington Post Canada | Jesse Ferreras | Posted 04.08.2016 | Canada Business

And it's NOT foreign investment.

Housing Correction 'Starts This Year'

The Huffington Post Canada | Daniel Tencer | Posted 03.03.2014 | Canada Business

The house price correction that some market analysts have been predicting for Canada for years will begin this year, says the world’s largest bond f...

Housing Crash Feared Among Experts

The Huffington Post Canada | Posted 02.26.2014 | Canada Business

Canada's real estate market may be resting on a house of cards, say some experts in a Reuters poll. The news agency surveyed 16 housing experts and...

9 Signs Canada Has An Epic Housing Bubble

The Huffington Post Canada | Daniel Tencer | Posted 11.11.2013 | Canada Business

Maybe Canada doesn’t have a housing bubble. Maybe this time, it really is different. Maybe life expectancies have grown, and with them, people’...

The Most Expensive Provinces For First-Time Home Buyers

CP | Linda Nguyen, The Canadian Press | Posted 06.09.2013 | Canada Business

TORONTO - The average first-time homebuyer in Canada is 29 years old and expects to be able to put down a down payment of $48,000 on $300,000 home, ac...

House Price Declines Go Nationwide

The Huffington Post Canada | David Paddon, The Canadian Press | Posted 02.18.2013 | Canada Business

The total number of Toronto home sales dropped some 55 per cent in November from a year earlier, according to real estate research firm BILD. Thoug...

Housing Affordability Deteriorating Sharply: RBC

CP | David Paddon, The Canadian Press | Posted 07.29.2012 | Canada Business

It's getting more difficult to pay for the costs of owning a home in Canada and the situation will likely worsen, the Royal Bank said Tuesday.The RBC ...

Expect House Prices To Keep Rising In 2012: Royal LePage

CP | Craig Wong, The Canadian Press | Posted 03.13.2012 | Canada Business

The price of homes in Canada will continue rising this year, but the hottest markets in Toronto and Vancouver will grow much more slowly, predicts th...

Home Prices To Fall, TD Warns

CBC | Posted 09.12.2011 | Canada

The average price of a resale home in Canada will fall by more than 10 per cent over the next couple of years, an analysis by TD Economics predicted Wednesday. Calling it a "moderate correction," the report's authors also say sales will decline by more than 15 per cent over the same period. "A combination of more subdued job and household income growth, rising interest rates, the recent tightening in borrowing rules for insured mortgages and fewer first time home buyers are expected to be the chief culprits behind the slowdown," the report said. TD economists profiled 12 urban markets across the country. They highlighted Vancouver and Toronto -- currently the two most expensive housing markets in Canada -- as the cities most vulnerable to a larger-than-average decline, "reflecting in part their exposure to the condominium segment, which appears particularly ripe for a correction." No city will experience a housing boom in the near-term, the authors say. But price drops in Regina, Saint John, N.B., Halifax, Calgary and Edmonton will be less than the average -- what the report calls "a soft landing." On a national basis, the report's prediction of an average 10.2 per cent price decline translates into an average resale price of $329,000 in 2013, down $38,000 from its 2011 peak. But the red-hot Vancouver market, where the average resale home now goes for about $793,000, the authors predict a 14.8 per cent decline by 2013 to a still lofty $675,000 -- a drop of $118,000. "Vancouver has been the poster child for those individuals worried about a real estate bubble here in Canada," the report says, with the authors pointing out that household debt levels are higher in Vancouver than in any other city. Toronto's forecast price drop over the same period will be almost as dramatic -- an 11.7 per cent cent decline to $415,000 by 2013. That's $55,000 lower than the current peak. The authors note that sales are already off their peak. But they say the biggest drivers of housing demand are likely to remain "supportive" for the rest of 2011. The bulk of the price correction will come in 2012 and 2013, they say. TD economists say the Bank of Canada is likely to start hiking interest rates again at the start of 2012. With the central bank's policy rate directly tied to variable rate mortgages -- which 40 per cent of current mortgage holders now have -- the authors point out that a $400,000 mortgage will cost $440 a month more to service by mid-2013, assuming the Bank of Canada raises its key overnight rate from the current 1.00 per cent to 3.00 per cent by that point. The average price of a resale home in Canada will fall by more than 10 per cent over the next couple of years, an analysis by TD Economics predicted Wednesday.