Holding Pattern: PPCLA

Holding Pattern: Alberta…

Mortgage Debt Grew, Fast

Mortgage Debt Grew at Fa…

Renovations remain top priority

Renovations remain a top…

Variable rates vs fixed rates

Variable rates vs fixed …

Opening borders may fuel Canadia…

Reopening of borders may…

BOC on Economic Recovery

Bank of Canada delivers …

Buying vs. Renting: Study

Buying vs. Renting: Home…

Forfeiture of $2.8 million condo

BC seeks forfeiture of $…

Household debt exceeds $2.5T

Canadian household debt …

Housing Market Vulnerable – CMHC

Canada’s housing market …

Social Media
Visit Us On TwitterVisit Us On FacebookVisit Us On Instagram

Canada home prices rising at fastest rate in three decades

  • Written by:

Newly built Canadian homes are rising faster in price than at any time in more than three decades.

by Bloomberg 19 Mar 2021

Canada home prices rising at fastest rate in three decades

by Erik Hertzberg

Prices rose 1.9% in February from the previous month, according to data released Thursday by Statistics Canada, the fastest one-month increase since 1989.

The data confirm that the country’s housing markets are running at a red-hot pace, with record low interest rates, scant inventory and demand for more space pushing up sales activity and prices to new highs.

“The continued strength in new housing prices may be an obstacle for some potential buyers to secure a new home. As prices increase, the purchase of a house will become less affordable as bidding wars continue to overheat an already active market,” the Statistics Canada report said.

Vancouver’s new-home prices led the gains, rising 4%, but increases were widespread across the country, with prices up in 22 of 27 cities. On the year, new home prices rose 7%.

The data cover new single homes, semi-detached homes and town homes but not condominiums.

Copyright Bloomberg News




About Us

Follow Us