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

Fire safety concerns at Anita Place Tent City

Residents sacrificing safety for warmth

Candidates eyeing mayor’s chair in Maple Ridge

Daykin, Morden undecided about return to politics

Maple Ridge Leisure Centre pool closure delayed until new year

City rejects proposals as bids fail to meet city’s purchasing and procurement policy

Maple Ridge BCSPCA looks to unlock donations

Lock in for Love fundraiser set for Sunday, Oct. 22 from noon to 5 p.m.

Celebrating Waste Reduction Week in Maple Ridge

Reduce, reuse and make sure packaging is recyclable.

VIDEO: Surrey Now-Leader reporter tries on a ‘drunk driving suit’

The suit from Ocean Park Ford emulates what it’s like to get behind the wheel after drinking

Flames win makes it three straight

Top Junior B teams clash in Abbotsf0rd on Saturday tonight

New B.C. acute care centre opens for young patients, expectant mothers

Facility aims to make B.C. Children’s Hospital visits more comfortable

Police officer hit by car, stabbed in Edmonton attack back on job

Const. Mike Chernyk, 48, returned to work Thursday

UBC medical students learn to care for Indigenous people

Students in health-related studies to take course, workshop to help better serve Aboriginal people

Dorsett has 2 goals, assist in Canucks’ 4-2 win over Sabres

‘It was a real good hockey game by our group,’ Canucks coach Travis Green said.

Berry disappointed: Bear tries to eat fake fruit on woman’s door wreath

A Winnipeg woman has taken her berry-embellished wreath down, after a hungry bear visited her porch

Man in custody linked police search near Salmon Arm

Police have not connected arrest to search at Salmon River Road property

B.C. search groups mobilize for missing mushroom picker

Searchers from across the province look for Frances Brown who has been missing since Oct. 14.

Most Read