Daily Market Update

by REP08 Jan 2015
Nanaimo home sales up 10%
The Nanaimo real estate picture is looking well after a 10 per cent increase in home sales in 2014. The numbers have helped to restore confidence in the market for builders, who have started planning more home development. Across the Island, the average selling price was $345,000, up five per cent from 2013, while in Nanaimo it was up 13 per cent to $386,000. Read the full story here.

Toronto home prices rise at near-record pace
The average price of a home in the area climbed 8.4 per cent last year, from a year earlier, to $566,726, according to numbers from the Toronto Real Estate Board. Home sales, in turn, rose 6.7 per cent to a near-record 92,867. Read the full story here.

Kirby: ‘Things about to get vicious’ with oil prices
According to columnist from Maclean’s, ‘the “virtuous circles” of rising oil prices, higher incomes and booming house prices, are about to turn “vicious. With declining incomes, plunging confidence and fall asset prices could make life tough for investors and homeowners alike. Read the full story here.

Northern B.C. home sales boost brings confidence
Northern B.C. reported an increase this year compared to last with a boost in home sales, according to the BC Northern Real Estate Board. In 2014, 5,218 properties worth $1.3 billion were sold compared to 4,891 worth $1.2 billion in 2013. Read full story here.

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