Toronto real estate. HOME PRICES IN 2007

Canadian house prices will continue to rise next year, but at more moderate levels than in 2006, according a report released on Thursday by Royal LePage Real Estate Services.Royal LePage expects low unemployment rates across the country, higher incomes, s

Strong consumer confidence and moderate interest rates to carry over into 2007 and help boost the average home price by 6.5 percent to C$293,000 ($252,586).

"Looking ahead to 2007, our plucky housing market should soldier on, with prices rising comfortably, as key economic fundamentals underpin positive consumer confidence," Phil Soper, chief executive of Royal LePage said in a release.

According to the survey, the average price for a standard condominium rose nearly 17 percent to C$218,015 in the fourth quarter from the year-ago quarter.

Detached bungalows were next in line with a 16.2 percent increase to C$304,271, while the average price for a standard two-storey property rose 13.4 percent to C$366,839.

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Toronto real estate. HOME PRICES IN 2007

Reviewed by citra
Published : 2006-12-14T16:42:00-08:00
Rating : 4.5