Originally Posted by pennyhp

Hi all

Does anyone know of a website that I can look on to view property price trends in Canada, especially New Brunswick?
I have tried Stats Canada but can't find anything useful on there.

Thanks

Penyhp

Originally Posted by Calgary Herald

The average price of new homes in Calgary could be at least $100,000 higher next year than it was in 2002, says a federal housing agency.

New single-family homes will likely reach an average of $342,000 -- but could go even higher, says Richard Corriveau of Canada Mortgage and Housing Corp.

By the end of 2002, the average purchase price was $242,386 -- about 41 per cent lower than the 2006 forecast.

In 1989, the average was $142,653, nearly $200,000 less.

"There's no doubt the price rise has been well beyond the rate of inflation over those time periods," said Corriveau following his address to the recent Housing Outlook Conference in Edmonton.

"But there have been price pressures from every angle -- like land, building materials, labour and insurance. You name it, it's been going up."

Depending on these and other factors, including the fact that most homes are larger now than they were 17 years ago, it's possible the average price could hit $350,000, he says.

But there is also the possibility consumer resistance might surface if predicted interest rate hikes of 75 basis points reach the marketplace. One hundred basis points equals one per cent.

If the rates go up, it could push up monthly carrying costs, forcing potential buyers to reduce their expectations for homes by looking for smaller ones or going into multi-family, says Corriveau.

Those costs include the monthly principal and interest payments on the mortgage, as well as taxes and heating.

"Generally, it's not the price of homes that concerns consumers, it's how much is coming out of their pockets each month to pay home ownership costs," he says.

Shane Wenzel, senior vice-president of sales and marketing, agrees $350,000 is quite possible.

"Our average right now is about $325,000, so an increase of $25,000 will likely mean 80 per cent of our 2006 sales will be at $350,000," he said following the conference.

But it has to be remembered that there are still plenty of homes being built in the Calgary marketplace that are priced below the forecast average, says Wenzel. "Builders are attempting to cover as many price points as possible by varying their product selection."

Originally Posted by Hangman

I can't help you in regards to New Brunswick however here is an article takern from last Saturdays Calgary Herald regarding new house prices in Calgary.



Cheers
Steve

Originally Posted by Cowtown

To follow this:

One of our near neighbours house went on the market last week - it is not substantially different to ours. It is advertised at $134,000 more than we paid four years ago! So, yes, I believe there is substantial house price inflation in Calgary.

Originally Posted by pennyhp

Hi all

Does anyone know of a website that I can look on to view property price trends in Canada, especially New Brunswick?
I have tried Stats Canada but can't find anything useful on there.

Thanks

Penyhp

Originally Posted by Sarah Farrand

Not sure this helps but I just got my tax assessment and the value of my house has risen nearly 22% in 18 months...

Originally Posted by pennyhp

Hi all

Does anyone know of a website that I can look on to view property price trends in Canada, especially New Brunswick?
I have tried Stats Canada but can't find anything useful on there.

Thanks

Penyhp

Originally Posted by CWEMM02

You should use www.mls.ca. This site will allow you view current properties for sale in your area. Also, you will be able make contact directly with agents in your area of interest who can tell you about local market conditions and near term expectations.

Originally Posted by pennyhp

Hi all

Does anyone know of a website that I can look on to view property price trends in Canada, especially New Brunswick?
I have tried Stats Canada but can't find anything useful on there.

Thanks

Penyhp

Originally Posted by steve of 5-0

Hello you, how are ya?

Speaking as half of a marriage that has resided here near St. George since last Jan. I am happy to inform you of the following -

It is the case that it is a buyers market, hand in hand with a buyers market comes a depressed economy.

Canada is having a General Election in January, in the past the opposition Conservative leader referred to Atlantic Canada as a "welfare state".
It it mildly true, here Winter brings a lot of industry to a halt, here if one puts in enough hours in the Summer, one is expected to "sign-on" to get through the Winter.

In NB along the Fundy Bay coast, is expensive in comparison to inland.

Fredericton is the hub of NB, and that is reflected in house prices.

But less then 30min. drive away from the cities and house prices are very cheap.

For Brit`s arriving in NB, now is the time to get a place and start a business, after some very, very in depth research.

Remember, there is less then 1,000,000 people in NB, NB is 3 times the size of Wales.

I can only suggest you use www.mls.ca

The NB provincial stats` sites are 4 years old.

Originally Posted by Sarah Farrand

Not sure this helps but I just got my tax assessment and the value of my house has risen nearly 22% in 18 months...

Originally Posted by jcexit

Property assessments for municipal tax purposes don't reflect the Market Value of a property. That can be higher or lower. This year in Oakville prices have gone up by almost 9-10 % and last year 8%. You may have made a substantial gain - hope you were able to buy big!

Originally Posted by iaink

I'm sure they reflect trends in the market value, they just lag behind a little. No municipality is dumb enough to suddenly jump the property tax assessments to the market values across the board, there would be a mutiny. It seems that in general tax assessments jump up to whatever a house sold for come the next assessment, but older houses that have not sold in years lag behind a bit as its politically suicide to jump those assessments to the full market value.

Take my house as an example. Bought in 2001 for 105k, assessment jumped to 105k, then it stayed there a few years until a neighbours similar house sold for $116k...my assessment jumped to $116k, where it stayed for a year or two, this year its up to 125k, based on inflation and a larger house nearby selling for >$150k.

I may be assessed for 125, but there is no way I would sell for that little, but as far as price trends go I think the municipal assessment reflects the trends, just not necessarily the market value.

Originally Posted by Souvenir

Hellfire! I thought property was cheap up here! Next you'll be telling us it came with three acres and riverine rights.

Originally Posted by iaink

0.82 acres with a view like this.