House prices climbing across Canada. (Contributed) House prices climbing across Canada. (Contributed)

Housing market having ‘Goldilocks moment’: report

Prices in Metro Vancouver jumped only 2.5 per cent, says house price survey

Real estate prices keep climbing, says a report released Thursday from Royal LePage.

The Royal LePage House Price Survey shows the price of a house in Canada jumped by an average of 13 per cent, when the third quarter of 2017 is compared to the same period last year.

The company says the rate of increase of real estate prices is evening out across the country.

“Uneven regional economic growth has plagued Canada for much of the past decade, a challenge most evident in the nation’s housing markets,” said Royal LePage CEO Phil Soper.

“For the first time since 2011, we are seeing real estate in all five of our largest cities appreciate at a manageable, healthy clip. Canadian housing is enjoying a Goldilocks moment – not too hot, and not too cold.”

The report says nationally, the median price of a condo increased 15 per cent in one year, to about $414,000.

The report said, during the third quarter of 2017, the aggregate price of a home in Greater Vancouver increased by 2.5 per cent, year-over-year, to $1,229,133.

Over the same period, the City of Vancouver saw an increase of 2.2 per cent to $1,439,652.

Langley, Surrey, North Vancouver, and Richmond saw third-quarter price increases of 9.2 per cent, 6.3 per cent, 4.5 per cent and 1.4 per cent, to $831,283, $796,466, $1,417,226, and $1,103,064, respectively.

However, in August, Real Estate Board of Greater Vancouver says the composite benchmark price for all residential properties in the area — including detached homes, townhouses and condominiums – was $1,019,400 – up 8.7 per cent from July 2016.

Just Posted

Food bank in Maple Ridge puts out warning about fraudsters

The Friends In Need Food bank has already had two complaints about man soliciting in their name

Old fashioned Christmas sing for seniors in Maple Ridge

The sing-a-long will also include performances by chorals and choirs.

Maple Ridge Sock Granny campaign helping those in need stay warm at Christmas

The second annual fundraiser at Maple Ridge Seniors Village to help those in need

On Cooking: Culinary gift ideas

I have some great culinary ideas for you.

Gardening: Continuous blooms from Christmas until Valentine’s Day

The display you design with these bulbs is where the true fun begins.

REPLAY: B.C. this week in video

In case you missed it, here’s a look at replay-worthy highlights from across the province this week

Six straight for streaking Giants

Vancouver blanks Cougars on Teddy Bear Toss night at Langley Events Centre

Family suspends search for missing Alberta couple, plane near Revelstoke

Due to bad weather, families of missing Albertan couple say they will resume in the spring

Canadian grocers make $3M per year from penny-rounding: UBC study

Ottawa announced plans in 2012 to phase out the copper coin

B.C. anti-hate campaigner finds Google search on his efforts redirects to porn

Text from online news article about Cran Campbell being used to link to suspect websites

‘The Last Jedi’ opens with $220M, 2nd best weekend all-time

As anticipated, the movie fell shy of the opening weekend for J.J. Abrams’ 2015 franchise reboot

2 couples tie the knot in Australia’s 1st same-sex weddings

West Australian couple Anne Sedgwick, Lyn Hawkins have been together for 40 years

EDITORIAL: Putting #MeToo to work in your workplace

Workers from top to bottom need to stand together against the bully of sexual harassment

Most Read