House Price Update
 

http://www.statcan.ca/Daily/English/060510/d060510b.htm

Thought you might be interested in the house price changes year on year March 2006.

Re: House Price Update
 

Ouch - now overlay the movement in currencies and it gets worse.

PS could you please post the equivalent table for 2007 and 2008 cos that would be handy :)

M

Re: House Price Update
 

That was funny. The price jump is the largest jump in 16 years according to today's Globe and Mail.

To understand what the changes mean to affordability, the prices in Calgary are growing at four times the rate of average wage increases while in the GTA area prices are growing at about 25% faster than average wages.

I had a phone conversation with someone in Calgary on Saturday. This person is attached to a small property investor who has done very well. Anecdotally, it would seem that the price increases in that area are being pushed up in part due to speculation. The biggest move in prices must be more related to the increase in population and shortage of workers in being able to build houses to meet demand.