House prices in Canada rose by 5.35% during 2014. This represents a rising trend. Annual house price growth was 4.45% (2.04% inflation-adjusted) in Q2 2014, and 4.64% (3.04% inflation-adjusted) in Q1 2014, according to Teranet – National Bank of Canada.
Calgary had the highest y-o-y house price increase at around 9.17% during the year to November 2014, followed by Toronto (7.25%), Hamilton (7.05%), Edmonton (6.18%), and Vancouver (5.93%).
Winnipeg (1.51%), Victoria (1.45%), and Montreal had smaller price hikes.There were house price declines in Ottawa (-0.22%), Québec (-0.28%), and Halifax (-1.76%).
House prices in Canada rose by 49% from Q1 2000 to Q1 2009, due to low interest rates and economic growth.
From Q2 2009 to Q4 2012, house prices increased by another 17%, despite government efforts to cool the housing market.
Canada’s house prices are projected to increase by another 0.7% in 2015, according to CREA. Average house prices are expected to rise by 2% in Alberta and Manitoba; Ontario has a 1.3% predicted price gain. Other provinces are expected to have stable average prices, with around less than one percentage point increase.
In contrast the realtor Royal LePage says the price of a Canadian home is expected to rise by 2.9% on average in 2015, with Toronto expected to lead the pack with average home prices forecast to rise by 4.5%. Vancouver is expected to see the second-biggest average jump in prices, up 2.8%, followed by a 2.4% gain in Calgary, and 0.6% in Montreal.
(All this data base above was taken by the website “Global Property Guide”.)
Close to this type of growth of price are the the most expensive canadian homes because even though the house is worst the price it is one thing to list a home at an exorbitant price and selling it is another totally different.
Of course many of us dream with some big houses, really expensive and luxurious and that we know we could never afford. But anyway not even the rich people wants or can´t seem to afford them either. At least this is the case of some of the most expensive homes in Canada that are still waiting for a buyer.
Former prime minister Brian Mulroney’s home in Westmount, Quebec is one of this examples. The massive home has been on the market since September 2013, but it hasn’t managed to find a buyer and its price has gone from $7.95 million to $5,799,999.
And it is not lonely on this battle of not selling. We found some Toront, Ontario and Quebec houses for $ 23,180,000.00 the most expensive $15,297,282.27 the least expensive.
So don´t feel bad because you cannot afford your house dream that is the most luxurious real estate out there because they are a little to much for other people´s astes, too.