MONTREAL, Jan. 11, 2019 /CNW/ - According to the Royal LePage House Price Survey released today, the Greater Montreal Area real estate market saw, in the fourth quarter of 2018, the highest appreciation rate among the three largest metropolitan areas in the country, for a second consecutive quarter, with an increase of 4.1 percent, compared with the same quarter in 2017, reaching an aggregate price(1) of $407,230.
Continued influx of newcomers reflected in notable increase in home prices
Healthy local economy reflected in a steady increase in home prices
New sources of employment expected to improve housing demand in the second half of 2019
Government regulation and changes in mortgage rules continue to constrain buyers
B.C. government policies continue to impact regional real estate market
Strong economy and one of the lowest rates of unemployment in the country continue to attract homebuyers
Canadian Home Prices See Healthy Gains in the Fourth Quarter as Market Begins Recovery from the Most Significant Housing Correction in a Decade
TORONTO, Jan. 11, 2019 /CNW/ - According to the Royal LePage House Price Survey(1) released today, year-over-year home prices made healthy gains in many regions across Canada in the fourth quarter of 2018, continuing the recovery from the most significant housing correction since the financial crisis. Once again, the Greater Montreal Area saw the highest year-over-year home price appreciation rate of the three largest Canadian metropolitan areas studied.
Ongoing slump in condominium prices overshadow price appreciation gains in detached segments
Low inventory coupled with healthy demand fuel price increases in the region