Worldwide

Price of Metro Vancouver condos surge, detached homes drop

Price of Metro Vancouver condos surge, detached homes drop”

Other data have shown Toronto home sales have dropped compared to where they were a year ago since the Ontario government introduced a number of measures in April, including a tax on foreign buyers, to tamp down the market in Toronto and the surrounding areas.

Falling home prices in Toronto in September dragged down the Teranet-National Bank national composite house price index as it posted its first monthly decline since January 2016.

The Bank of Canada has also raised its key interest rate target twice this year, prompting the big banks to raise their prime rates, pushing the cost of variable-rate mortgages higher.

Of the five major markets, Toronto saw the greatest year-over-year aggregate home price increase in the third quarter, rising 21.7 per cent to $860,295.

Bungalows are selling at an average price of $342,103, down 3.6 per cent, while the average price of a two-storey home is $407,915, down 1.5 per cent. Prices for condominiums were not released.

Prices were unchanged in 15 out of 27 markets, including Vancouver and Toronto.

The move lower came as the index for Toronto, Canada's largest housing market, fell 2.7 per cent on a month-over-month basis.

The national index, which includes 11 cities, fell 0.8 per cent compared with the previous month, the largest monthly decline since September 2010.

"Many might worry about the fact that the last time we saw a string of monthly (Toronto) declines of such magnitude was during the last economic recession". That was short of market expectations for a 0.2% gain, according to economists at Royal Bank of Canada.

A report last week from the Saskatoon Region Association of Realtors said Saskatoon was firmly a buyers' market, with a sales to listing ratio of 34 per cent.

While prices in Vancouver initially declined after the tax was put in place last August, prices have rebounded to a fresh peak.



Like this

Latest


12 October 2017
Pokémon Ultra Sun/Moon | Necrozma, Ultra Beasts, everything we know
Dusk Mane Necrozma (which occurs when Necrozma absorbs Solgaleo) will have access to a Z-Move called "Searing Sunraze Smash". When this form of Necrozma takes control of the Legendary Pokemon Lunala (Moon), its steals its light energy by force.

12 October 2017
IAF commandos slain in encounter
The operation started when the army cordoned off Hajin area after a specific input about the presence of rebels, officials said. According to the Kashmir Media Service, a youth in the Keran area of Kupwara district was also killed in a separate gun battle.

12 October 2017
Firms Fundamental Overview: Nutanix, Inc. (NASDAQ:NTNX), Nabors Industries Ltd. (NYSE:NBR)
Highbridge Cap Mgmt Limited Liability Com holds 0.05% of its portfolio in Nabors Industries Ltd . (NYSE: NBR ) for 425,499 shares. Wells Fargo & Company MN owned approximately 0.25% of Nabors Industries worth $5,746,000 at the end of the most recent quarter.

12 October 2017
Intel Corporation (INTC) Upgraded by Vetr Inc. to "Strong-Buy"
The chip maker reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.04. BidaskClub cut shares of Intel Corporation from a "buy" rating to a "hold" rating in a report on Friday, June 16th.

12 October 2017
Bloomberg donates $64M to fight Trump's coal agenda
Former New York Mayor Michael Bloomberg's foundation is donating $64 million to a Sierra Club program seeking to phase out coal-fired power plants and reduce planet-warming carbon emissions.

12 October 2017
What's Acceptable Profitability For Apple Inc. (AAPL) and Box, Inc. (BOX)?
White Pine Cap Ltd holds 1.21% of its portfolio in Apple Inc . (NASDAQ: AAPL ) on Friday, December 16 with "Overweight" rating. It shows the cash a company is able to generate after spending the money need to maintain or grow its asset base.

12 October 2017
First Financial Bancorp. (NASDAQ:FFBC) Under Analyst Spotlight
SG Americas Securities LLC increased its holdings in shares of First Financial Bancorp.by 16.6% during the 1st quarter. The bank reported $0.37 earnings per share for the quarter, missing the Zacks' consensus estimate of $0.38 by ($0.01).

15 September 2017
ShangriLa is online casino with guarantee of won money pay outs
Shangri La proposes games for any taste A large selection of slot games allows anyone to choose a game for any discerning taste. This is the best place to spend your free time with pleasure, stress relief, relax and forget about the daily problems.

13 September 2017
Casino "SL Casino Riga" of Storm International chain to open in Riga
Guests could relax playing the most popular slots, roulette and video poker, as well as enjoy original entertaining show programs. The interiors are made in soft colors and the muffled lighting is done to create an atmosphere of luxury and relaxation.

23 June 2017
Marvel Looks To Shake Its Poor Gaming Reputation
The games are well designed with attractive graphics and extensive content, but neither is viewed as a flawless experience. These games tend to be actually well done for what they are, and in a way they’ve been the pride of Marvel gaming.



Recommended