Average Housing Prices Rise Again Across Most of Canada's Major Urban Centres.

July's resale housing price numbers have been released, indicating another year over year increase in most of Canada's major urban centres. Real estate continues a strong upward trend. 

Average MLS® Resale Price for Local Markets

City	July 2011	July 2010
Halifax	$ 262,723	$ 245,944
Saint John	$ 158,448	$ 176,061
Quebec	$ 240,225	$ 237,605
Montreal	$ 317,519	$ 303,317
Ottawa	$ 342,925	$ 322,342
Toronto	$ 459,122	$ 420,455
Hamilton/Burlington	$ 349,235	$ 309,293
Winnipeg	$ 238,258	$ 225,191
Saskatoon	$ 303,439	$ 289,715
Regina	$ 272,548	$ 281,836
Calgary	$ 397,613	$ 402,809
Edmonton	$ 334,444	$ 329,731
Vancouver	$ 761,673	$ 657,815
Victoria	$ 467,052	$ 496,943

E-Mail or comment with any questions or concerns:

matthew.j.w.clarke@gmail.com

www.kingstonhomeloans.ca

CMHC Says that House Prices will Continue to Rise in the Near Future. Employment, Immigration, and Low Mortgage Rates are Positive.

The Canada Mortgage and Housing Corporation says that house prices will continue to rise in the near future. The average price will probably level out in 2011 to an average of $367,500 and then rise to $372,400 in 2012. Factors such as employment, immigration, and low mortgage rates remain supportive for the housing sector as a whole.

CMHC also predicts relatively flat mortgage rates through 2011, and that they will moderately increase in 2012. Good news for mortgage borrowers over the next twelve months. Overall, housing starts are also expected to be strong, with 183,900 new builds predicted for the second quarter of 2012.

For anyone thinking of investing in real estate over the near-term, CMHC brings welcome news.

Happy Investing : )

New Condo Development in Kingston. Plans and Prices for Anna Lane are Available.

Pricing and floor plans / layouts have been revealed for Kingston's newest condominium development downtown. Located on Queen Street, "Anna Lane" is aiming to provide affordable living for Kingstonians who want an urban lifestyle.


The suites will be brand new, which is definitely a plus for those who do not want to do much maintenance or any renovations, but it looks like prices are not as low as many had originally expected. Ranging from $141,000 to $315,000, plus parking and taxes, there is a wide range of opportunities. In addition, units range in size from small bachelor apartments to relatively large 3 bedroom units.


For your information, I have attached a list of the unit prices below:





Personally, I might consider owning one to rent out to students in the area, but at about $300,000 for a 2 bedroom unit, they might only be practical to live in in order to cover the mortgage payments and taxes.


For those who want additional information, just send me an e-mail and I will gladly give you more information and tell you how you might proceed.