Housing up 264% since 1981
\nJanuary 24, 2007 <\/p>\n
Canadian Press\/Residential housing prices have posted double-digit appreciation annually, though substantially less when compounding is taken into account, in almost half of all major Canadian centres since 1981, a Re\/Max real estate survey suggests.<\/p>\n
Nationally, Re-Max said the average home price appreciated 264 per cent, 11 per cent annually, in the 25-year period, rising from $76,021 to an estimated $277,000 in 2006. After adjusting for compounding, which factors incremental price increases into the calculation of annual prices over time, the annual growth rate was 5.3 per cent.<\/p>\n
Leading the pack was Barrie, with a 372 per cent increase in average selling price, from $51,665 to $244,000, over the 25-year period, Re\/Max said. It also saw the top compound annual growth rate of 6.4 per cent.<\/p>\n
The smallest 25-year urban home appreciation noted by Re\/Max was in Regina, up 140 per cent during the period from $54,915 to $131,851. On a compound annual growth rate basis, that’s an increase of 3.6 per cent. <\/p>\n
During that period, Canada’s population rose about 25 per cent to 31 million from 24.8 million.<\/p>\n
An analysis of 17 housing markets across the country found that price appreciation topped 240 per cent in seven areas, including Barrie at 372 per cent; St. Catharines, 329 per cent; Hamilton-Burlington,, 325 per cent; Ottawa, 297 per cent; the greater Toronto area, 290 per cent; the greater Vancouver area and Halifax-Dartmouth, 242 per cent.<\/p>\n
Victoria reported a 229 per cent increase, London, an upswing of 228 per cent, Calgary 227 per cent and Kelowna, B.C, at 211 per cent.<\/p>\n","protected":false},"excerpt":{"rendered":"
Housing up 264% since 1981 January 24, 2007 Canadian Press\/Residential housing prices have posted double-digit appreciation annually, though substanti…
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