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Canadian property prices on the up
Figures just released by the Canadian Real Estate Association reveal that house prices across Canada created another national record in June
The average cost of a Canadian residential resale property is now CDN$315,332, an 11.2 per cent increase over the figure for June 2006 - the highest monthly year-on-year increase for ten months. Coincidentally, UK house prices also increased 11.2 per cent over the last 12 months.
Although house prices in all of Canada's ten provinces and three territories increased, there were - unsurprisingly - some big contrasts. The biggest 12-month jump in average June prices was seen in Saskatchewan, where prices rose 34.9 per cent to CDN$180,934; at the other end of the scale residential resale properties in Prince Edward Island crept up just 01. per cent - to CDN$134,295, the cheapest average in Canada.
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