Canadian musician Jacob Hoggard has been found not guilty of sexually assaulting a young woman in northeastern Ontario eight years ago. The former Hedley frontman had pleaded not guilty to sexual assault.
Canadian home prices have jumped 21.4 per cent since last year, survey finds
A new survey from the real estate firm Royal LePage shows that housing prices in Canada have jumped an astounding 21.4 per cent since this time last year.
The Royal LePage House Price Survey, released on Friday, shows that the aggregate price of a home in Canada has risen to $749,800 in the third quarter of 2021, compared to $617,800 in the third quarter of 2020.
The aggregate price refers to a “weighted average of the median values†of both condominiums and single-family homes for a given area.
During the third quarter, housing sales also slowed down, largely due to waning supply and demand, coupled with lessening pandemic restrictions, Royal LePage notes.
“With easing pandemic restrictions, there was finally something to talk about other than real estate, and people began travelling and socializing again,†Phil Soper, president and CEO of Royal LePage, said in news release.
“In addition, a year of relentless competition for too few properties drove some would-be purchasers to the sidelines as buyer fatigue set in. Yet their fundamental need or desire for a new home remains and we are seeing pent-up demand grow. We expect another unusually busy winter season building to a brisk 2022 spring market.â€
When broken down by housing type, the median price of a single-family detached home rose 25.2 per cent, while the median price of a condo rose 13 per cent.
When it comes to regional housing prices, each of the major Canadian cities and their surrounding areas saw a jump in home prices, with the biggest jumps coming in Greater Vancouver (20.8) and Ottawa (20.7).
“Vancouver and the surrounding greater region remains firmly in a seller’s market,†said Randy Ryalls, general manager, Royal LePage Sterling Realty in Vancouver.
“Although activity showed signs of slowing modestly in the summer and early days of September, the market has picked up again, now that families are back in their usual routines.â€
Of the 62 Canadian cities included in the survey, every single one showed rising aggregate home costs, but the slowest rise in prices came out of Thunder Bay, Ont. (2 per cent), West Vancouver (3.7 per cent) and Toronto (4.8 per cent).
When it comes to the fastest-growing areas in terms of aggregate home prices, Saint John, N.B. (36.4 per cent), Kingston, Ont. (36 per cent), Belleville/Trenton, Ont. and London, Ont. (32.4 per cent) top the list.
Royal LePage is also predicting a 16-per-cent increase in aggregate home costs for the fourth quarter of 2021 when compared to last year’s fourth quarter.
“Looking back to the late spring of 2020, the Royal LePage benchmark value of a home was $580,000,†Soper said. “The subsequent ‘Covid-catalyst’ which drove legions of Canadians to upgrade their living situations, has created a period of exceptional home price growth with real estate values on track to grow 33 per cent by year end.â€
CTVNews.ca Top Stories
Police have arrested a Toronto woman in connection with three recent homicides and investigators say that they believe two of the victims may have been 'randomly targeted.'
The body of a British Columbia mountain climber has been located and recovered after the 39-year-old man was reported missing during a solo climb on Washington state's Mount Baker earlier this week.
Following child's death in Ontario, here's what you need to know about rabies and bats
An Ontario child died last month after coming into contact with a rabid bat in their bedroom, which was the first known human rabies case in Canada since 2019.
A French judge in a shocking rape case allows the public to see some of the video evidence
A French judge in the trial of dozens of men accused of raping an unconscious woman whose now former husband had repeatedly drugged her so that he and others could assault her decided on Friday to allow the public to see some of the video recordings of the alleged rapes.
Former Colorado county clerk Tina Peters sentenced to 9 years for voting data scheme
A judge ripped into a Colorado county clerk for her crimes and lies before sentencing her Thursday to nine years behind bars for a data-breach scheme spawned from the rampant false claims about voting machine fraud in the 2020 presidential race.
Anne Hathaway confirms 'Princess Diaries 3': 'Miracles happen'
You might be thinking, 'Shut up!' but it’s officially true: the 'Princess Diaries' franchise is finally growing.
A teen charged with the murder of another teen on Prince Edward Island last year has pleaded guilty to a lesser charge of manslaughter.
A Saskatchewan man living in the United States has pleaded guilty to possessing child pornography after he unknowingly provided disturbing videos to an FBI agent he thought was a pedophile.
Local Spotlight
Chantal Kreviazuk is set to return to Winnipeg to mark a major milestone in her illustrious musical career.
From the beaches of Cannes to the bustling streets of New York City, a new film by a trio of Manitoba directors has toured the international film festival circuit to much pomp and circumstance.
A husband and wife have been on the road trip of a lifetime and have decided to stop in Saskatchewan for the winter.
The grave of a previously unknown Canadian soldier has been identified as a man from Hayfield, Man. who fought in the First World War.
A group of classic car enthusiasts donated hundreds of blankets to nursing homes in Nova Scotia.
Moving into the second week of October, the eastern half of Canada can expect some brisker fall air to break down from the north
What does New Westminster's təməsew̓txʷ Aquatic and Community Centre have in common with a historic 68,000-seat stadium in Beijing, an NFL stadium and the aquatics venue for the Paris Olympics? They've all been named among the world's most beautiful sports venues for 2024.
The last living member of the legendary Vancouver Asahi baseball team, Kaye Kaminishi, died on Saturday, Sept. 28, surrounded by family. He was 102 years old.
New data from Greater Vancouver and the Fraser Valley shows a surge in supply and drop in demand in the region's historically hot real estate market.