News: Vancouver Real Estate Market

Royal LePage predicts continued stability in Canada’s winter recreational real estate market as interest rates expected to hold or moderate

  • National single-family home price in Canada’s winter recreational market decreased 0.7% year over year in the first 10 months of 2023

  • 24% of Royal LePage recreational property market experts reported a decline in buyer demand this year as a result of climate factors or environmental disasters, following unprecedented wildfire season

  • 41% of experts reported an increase...

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DOUBLE DIGIT GAINS FORCAST IN NATIONAL RECREATION HOUSE PRICE IN 2022

Despite a return to pre-pandemis travel and interest rate increases, demand still outnumber supply in amy recreational regions 

Highlights:

  • Aggregate price of a single-family waterfront property surged 21.5% year-over-year in 2021 nationally
  • Single-family homes in Ontario’s recreational property market recorded the highest year-over-year aggregate price appreciation in 2021, rising 34.6%
  • Quebec and Atlantic Canada expected to see highest recreational property price gains in 2022, rising...
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Highlights:

  • 14% of homeowners in Greater Vancouver, 13% in the Greater Toronto Area and 12% in the Greater Montreal Area own more than one property
  • More than 40% of secondary property owners in the greater regions of Vancouver and Toronto, and 21% in the Greater Montreal Area, used equity from their primary residence to make the purchase
  • 65% of secondary property owners in Greater Vancouver, 64% in the Greater Toronto Area and 35% in the Greater Montreal Area, are collecting rental income, at least...
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