Although different levels but rising uptrend popular place on 9 of the 11 largest real estate market in Canada. Topping the list is the Fraser Valley east of the city. Vancouver, British Columbia, home prices rose 32.5%; the second is the University of Vancouver (include city. Vancouver and surrounding areas) increased 24.8%.
October, Canadian housing prices set a new record. Most real estate markets (real estate) in this country tend to increase both quantity and price.
Specifically, the number of houses sold to over 45,000 units, despite government efforts to cool the property market in this country.
According to the latest publication of the Canadian Real Estate Association (CREA), the average price of a house in Canada in October to nearly 482,000 Canadian dollars (CAD0), equivalent to more than $ 350,000, an increase of 5.9% over the same period last year.
Existing home sales rose 2.4% compared to September and the number of new homes listed also increased slightly, to 1.7%.
Earlier, in May 9/2016, average house prices in the real estate market in Canada at just over 358,000 CAD / unit (equivalent to $ 265,000).
Housing prices in Canada
Canadian housing prices set a new record. Photo: Reuters
Although different levels but rising uptrend popular place on 9 of the 11 largest real estate market in Canada. Topping the list is the Fraser Valley east of the city. Vancouver, British Columbia, home prices rose 32.5%; the second is the University of Vancouver (include city. Vancouver and surrounding areas) increased 24.8%.
Two other markets also gained a percentage greater than the same period last year the City. Victoria, the provincial capital of British Columbia, with an increase of 20.1% and 19.7% Toronto area.
Only in Calgary, the city's southern Alberta home prices fell 4.1% over the same period last year.
In May 10/2016, the Government of Canada has placed more difficult rules, perform endurance tests that homebuyers must overcome.
Earlier, a series of measures to cool the property market has also been adopted as applying a 15% tax on transfer of land to foreigners, evaluating dossiers tightened mortgage lending, adjusted for the tax exemption traded the first time, change insurance rates for mortgages with lower ... deposit rate.
But the rules have a certain impact on the market, but does not reduce the number of homes sold in Canada.
Before the "hot" market, in October last, Association Canada Mortgage and Housing (CMHC) has launched the first red flag for the entire real estate market.
Reportedly, the alarming rate of green, yellow or red is used to assess the market based on the elements of oversupply, high valuations and house price growth. Accordingly, the blue represents low levels, yellow and red mean the highest alert. Four markets are in red alert as Vancouver, Toronto, Quebec and Hamilton.
Five alarm receiving gold market are: Calgary, Edmonton, Saskatoon, Montreal and Regina.
Status of high house prices rose so fast that the lease, purchase the home is becoming a burden for many Canadians, especially for young families.
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