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

Abattoir proposal has south Langley residents on edge

Opponents to poultry slaughterhouse application say aquifer could be at risk

Auditors couldn’t tell if Fraser Health executives bought booze on taxpayers’ dime

Review from 2014 says one administrator bought Bose headphones on company credit card

Langley hosts its own theatre festival this summer

A new festival aims at providing platform for local emerging talent to showcase their work.

VIDEO: Dashcam records near-miss by bad driver

Dash cam captures pickup truck illegally passing on highway shoulder in Langley

Aldergrove Blazers win in Aldergrove Arena’s final game

Aldergrove Bantam C2 Blazers won in the last ever ice hockey game in the old Aldergrove arena

Ottawa proposes restricted pot labels, packages

Packaging will include red stop sign with marijuana leaf and ‘THC’

Golden Knights win 4-1, remain undefeated against Canucks

Vegas gets points from 12 players in dominating effort versus Vancouver

Alberta budget plans for Trans Mountain expansion

Finance Minister Joe Ceci says expected revenues will be factored into budget forecasts

Langley City hits up province for share of pot revenue

The province says it understands municipalities will face extra costs when marijuana is legalized.

B.C. climber remembered for gentle spirit, love of mountains

Marc-André Leclerc had been hearing the call of the mountains since childhood

Proposed gun bill attacked by gun owners and shooting victims

The federal government tabled the bill today in order to tighten the sale and tracking of firearms

New anti-radicalization centre in the works for B.C.

Centre aims to help ‘vulnerable individuals on the path to radicalization’ before they turn to crime

B.C. bravery, public service honoured by Governor General Julie Payette

UVic basketball coach Kathryn Shields inducted into Order of Canada

Most Read