RE/MAX has released a report showing home prices increased 7 per cent per year over the last 10 years.
Sales data from 18 major Canadian markets showed the annual compounded rate of return was 6.82 per cent to be exact.
Tight inventories were found to drive home prices higher across the country resulting in strong sellers markets that increased housing values.
Here are some of the reports highlights:
Sales data from 18 major Canadian markets showed the annual compounded rate of return was 6.82 per cent to be exact.
Tight inventories were found to drive home prices higher across the country resulting in strong sellers markets that increased housing values.
Here are some of the reports highlights:
- Regina up 9.56 per cent
- Edmonton up 9.25 per cent
- Saskatoon up 9.2 per cent
- Winnipeg up 9.01 per cent
- Kelowna up 8.42 per cent
- Greater Vancouver up 7.8 per cent
- Calgary up 7.7 per cent
- Victoria up 7.59 per cent
All the above Western Canada cities outperformed the national average in housing values.
- Quebec City up 9.2 per cent
- Montreal up 8.48 per cent
- Ottawa up 6.78 per cent
- Hamilton-Burlington up 6 per cent
- Kitchener-Waterloo up 5.69
- Greater Toronto Area up 5.35 per cent
- London-St Thomas up 4.82 per cent
The report shows the significant gains in housing values across Canada through 10 years of a changing world including 9-11, the World Financial Collapse, different wars and recession.
Real Estate still provides a place to live and more important in the last 10 years a gain of 7 per cent per year as an investment.
Pictured above: Maple Leaf Square Condos
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