CENTURY 21 Canada National House Price Survey

 

STOCK MARKET JITTERS WILL NOT SHAKE CANADA’S

RESIDENTIAL REAL ESTATE MARKETS IN 2001

 

(OSHAWA, ONTARIO)  HIGHLIGHTS:

     

·        DEMAND FROM FIRST-TIME BUYERS PUTs UPWARD PRESSURE ON HOUSE PRICES

 

For Immediate Release:                                                                                               January 3, 2001

 

 (OSHAWA, ONTARIO) — The Canadian housing market appears strong enough to withstand both the unnerving effects of turbulent North American stock markets, and the threat of higher inflation in the year ahead, according to the year-end national house price survey released today by CENTURY 21 Canada. The survey compares prices in December 1999 to December 2000.

 

Don Lawby, President and Chief Operating Officer of Century 21 Real Estate Canada Ltd., says the meltdown in tech stocks over the past 12 months may have slashed the paper fortunes of many dot com millionaires, but had little impact on Canada’s residential housing market, which continued to be strong in 2000.

 

And even if inflation in the US and Canadian economies this year is higher than anticipated, there is unlikely to be any short-term effect on housing sales, he says.

 

“We’re in a growth market, the economy is healthy in most parts of the country, unemployment is falling, there’s talk of new investment and capital spending in smaller markets that have been slow for years, interest rates are still relatively low, and the political situation is stable.”

 

“These are ingredients for continued market stability and the same gradual growth in prices and volumes that we’ve experienced in the Canadian housing market for the past couple of years. Even if inflation increases in 2001, it will take a couple of years for it to have any impact on residential real estate.”

 


In (OSHAWA), TONY SLAVIN BROKER of CENTURY 21 EXCEL.COM REALTY INC says the price of a typical house INCREASED by 3.5% per cent in December compared to December 1999.

 SLAVIN says low mortgage rates and increased consumer confidence due to local economic stability have encouraged buyers to enter the DURHAM REGION housing market.  “The market would probably be even more active if our inventory levels were higher, particularly in the price range from $135,000.00 to $170,000.00 where there is the highest demand for homes. The average time from listing a house to concluding a sale has decreased from (35) days in 1999 to 25 days in 2000.”

 

SLAVIN expects the spring market to outstanding and as busy as last year “The best advice I can give both buyers and sellers who will be active in the market over the next few months is get out into the market before the March to May spring rush. Buy in January and February and just as importantly get pre-approved for a mortgage as soon as possible.

The latest CENTURY 21 survey shows the biggest increase in the price of a “typical house”1 between December 1999 and December 2000 was 18.2 percent to $305,000 in Notre-Dame-de-Grâce. The biggest price decline over the same period was 4.5 percent to $149,000 for a typical house in Oshawa’s Southeast area.

 

The survey reflects the price of a typical house in 90 communities across Canada. From December 1999 to December 2000, prices increased in 73 communities, decreased in 12, and were unchanged in 5.

 

Century 21 Real Estate Canada Ltd. is part of the largest real estate organization in the world.  With 6,300 independently owned and operated offices in 25 countries, CENTURY 21 sales associates help people buy and sell more than 2,000 properties every day. Backed by leading edge technology, the CENTURY 21 System is committed to making the buying and selling experience a positive one by offering uncompromising dedication to customer service and value-added products and services through the unique CENTURY 21 Connections program. 

CENTURY 21 is also the only organization to offer customers AIR MILES® reward miles on real estate transactions. For more information visit the award-winning website www.century21canada.com.

 

 

 

 

 

 

 

 

 

 

 


1Each of the communities surveyed has a home style that is “typical” of the majority of homes in that community.  By tracking changes in this “typical house” category, rather than average or median prices, the CENTURY 21 Canada survey offers a more accurate picture of price changes in each area.

NATIONAL SURVEY RESULTS

Changes in prices of typical houses

over six months and one year

 

LOCATION

June

2000

Dec

2000

6 Month

Change

Dec.

1999

Dec.

2000

1 Year

Change

BRITISH COLUMBIA

Lower Mainland:

·          Vancouver - West Side

$563,000

$570,000

1.2%

$566,000

$570,000

0.7%

·          Vancouver – East Side

$263,000

$264,000

0.4%

$261,000

$264,000

1.1%

·          West Vancouver

$590,000

$600,000

1.7%

$587,000

$600,000

2.2%

·          North Vancouver

$346,000

$341,000

-1.4%

$350,000

$341,000

-2.6%

·          Richmond

$264,000

$273,000

3.4%

$264,000

$273,000

3.4%

·          Burnaby - South Slope

$273,000

$274,000

0.4%

$272,000

$274,000

0.7%

Abbotsford

$186,000

$184,000

-1.1%

$182,000

$184,000

1.1%

Victoria 

$222,000

$228,000

2.7%

$225,000

$228,000

1.3%

Merritt-Diamondvale

$120,000

$113,000

-5.8%

$118,000

$113,000

-4.2%

Vernon

$151,000

$150,000

-0.7%

$144,000

$150,000

4.2%

Nelson – Fairview

$127,000

$128,000

0.8%

$127,000

$128,000

0.8%

Fort St. John

$121,000

$119,000

-1.7%

$119,000

$119,000

0.0%

ALBERTA

Calgary:

·          South Central

$513,000

$517,000

0.8%

$481,000

$517,000

7.5%

·          North East

$160,000

$162,000

1.3%

$154,000

$162,000

5.2%

·          North West

$182,000

$189,000

3.8%

$178,000

$189,000

6.2%

·          Lake Midnapore S.E.

$162,000

$161,000

-0.6%

$155,000

$161,000

3.9%

·          Woodbine S.W.

$175,000

$172,000

-1.7%

$177,000

$172,000

-2.8%

Edmonton:

·          North East

$117,000

$118,000

0.9%

$114,000

$118,000

3.5%

·          North West

$119,000

$121,000

1.7%

$110,000

$121,000

10.0%

·          North Central

$125,000

$126,000

0.8%

$122,000

$126,000

3.3%

·          South East

$121,000

$119,000

-1.7%

$118,000

$119,000

0.8%

·          South West

$131,000

$133,000

1.5%

$121,000

$133,000

9.9%

Wetaskiwin

$101,000

$101,000

0.0%

$94,000

$101,000

7.4%

Brooks

$130,000

$124,000

-4.6%

$125,000

$124,000

-0.8%

Medicine Hat  (new participant)

n/a

$143,000

n/a

$136,000

$143,000

5.1%

Drayton Valley

$133,000

$130,000

-2.3%

$131,000

$130,000

-0.8%

Grande Prairie

n/a

$135,000

n/a

$133,000

$135,000

1.5%

Fort McMurray  (new participant)

$196,000

$185,000

-5.6%

$188,000

$185,000

-1.6%

Red Deer

$162,000

$162,000

0.0%

$149,000

$162,000

8.7%


NATIONAL SURVEY RESULTS

Changes in prices of typical houses

over six months and one year

 


LOCATION

June

2000

Dec

2000

6 Month

Change

Dec.

1999

Dec.

2000

1 Year

Change

SASKATCHEWAN

Regina

$123,000

$127,000

3.3%

$125,000

$127,000

1.6%

Saskatoon

$117,000

$115,000

-1.7%

$115,000

$115,000

0.0%

Moose Jaw

$80,000

$81,000

1.3%

$74,000

$81,000

9.5%

Swift Current

$88,000

$91,000

3.4%

$91,000

$91,000

0.0%

Prince Albert - Carleton Park

$111,000

$106,000

-4.5%

$110,000

$106,000

-3.6%

Estevan

$97,000

$97,000

0.0%

$100,000

$97,000

-3.0%

Yorkton – South West

$88,000

$85,000

-3.4%

$86,000

$85,000

-1.2%

MANITOBA

Winnipeg:

·          Charleswood

$157,000

$157,000

0.0%

$155,000

$157,000

1.3%

·          Fort Richmond

$112,000

$111,000

-0.9%

$108,000

$111,000

2.8%

·          North Kildonan

$132,000

$135,000

2.3%

$130,000

$135,000

3.8%

·          St. Vital South

$116,000

$115,000

-0.9%

$114,000

$115,000

0.9%

Brandon

$92,000

$95,000

3.3%

$92,000

$95,000

3.3%

ONTARIO

City of Toronto:

 

 

 

 

 

 

·          Beaches

$360,000

$391,000

8.6%

$339,000

$391,000

15.3%

·          North York

$303,000

$304,000

0.3%

$296,000

$304,000

2.7%

·          Scarborough – North

$213,000

$213,000

0.0%

$207,000

$213,000

2.9%

Ottawa:

·          West

$169,000

$182,000

7.7%

$156,000

$182,000

16.7%

·          Orleans

$205,000

$207,000

1.0%

$188,000

$207,000

10.1%

Ajax

$198,000

$204,000

3.0%

$194,000

$204,000

5.2%

Bowmanville

$160,000

$166,000

3.8%

$159,000

$166,000

4.4%

Brampton/Bramalea

$186,000

$206,000

10.8%

$183,000

$206,000

12.6%

Collingwood

$147,000

$154,000

4.8%

$148,000

$154,000

4.1%

Halton Hills

$261,000

$266,000

1.9%

$260,000

$266,000

2.3%

Hamilton – Delta

$108,000

$118,000

9.3%

$119,000

$118,000

-0.8%

Hamilton – Westdale

$154,000

$147,000

-4.5%

$145,000

$147,000

1.4%

Huntsville*

$149,000

$149,000

0.0%

$130,000

$149,000

14.6%

Kincardine

$114,000

$113,000

-0.9%

$96,000

$113,000

17.7%

Kitchener/Waterloo

$150,000

$157,000

4.7%

$149,000

$157,000

5.4%

Leamington (Rural Essex County)

$127,000

$126,000

-0.8%

$125,000

$126,000

0.8%

* Typical house has been redefined as of June 2000. Data has been adjusted.

 


NATIONAL SURVEY RESULTS

Changes in prices of typical houses

over six months and one year

 

LOCATION

June

2000

Dec.

2000

6 Month

Change

Dec.

1999

Dec.

2000

1 Year

Change

ONTARIO cont.

London

$132,000

$131,000

-0.8%

$132,000

$131,000

-0.8%

Markham – Milliken

$255,000

$254,000

-0.4%

$245,000

$254,000

3.7%

Markham Village

n/a

$317,000

n/a

$284,000

$317,000

11.6%

Newcastle

$177,000

$178,000

0.6%

$178,000

$178,000

0.0%

North Bay

$113,000

$114,000

0.9%

$111,000

$114,000

2.7%

Oakville

$328,000

$321,000

-2.1%

$317,000

$321,000

1.3%

Oshawa – Southeast

$160,000

$149,000

-6.9%

$156,000

$149,000

-4.5%

Oshawa – Northeast

$139,000

$146,000

5.0%

$140,000

$146,000

4.3%

Pembroke

$103,000

$104,000

1.0%

$102,000

$104,000

2.0%

Peterborough

$122,000

$122,000

0.0%

$121,000

$122,000

0.8%

Pickering

$200,000

$208,000

4.0%

$188,000

$208,000

10.6%

Port Perry

$173,000

$177,000

2.3%

$176,000

$177,000

0.6%

Sarnia

$116,000

$120,000

3.4%

$111,000

$120,000

8.1%

St. Catharines

$134,000

$135,000

0.7%

$129,000

$135,000

4.7%

Thornhill – East

$338,000

$348,000

3.0%

$337,000

$348,000

3.3%

Thornhill – West

$349,000

$351,000

0.6%

$322,000

$351,000

9.0%

Uxbridge

$277,000

$282,000

1.8%

$273,000

$282,000

3.3%

Whitby

$171,000

$178,000

4.1%

$171,000

$178,000

4.1%

QUÉBEC

Montréal :

·          Notre-Dame-de-Grâce

$298,000

$305,000

2.3%

$258,000

$305,000

18.2%

·          Rosemount

n/a

$132,000

n/a

$129,000

$132,000

2.3%

Quebec City

$92,000

$97,000

5.4%

$86,000

$97,000

12.8%

Brossard  (new participant)

$120,000

$122,000

1.7%

$118,000

$122,000

3.4%

Laval – Auteuil (n.p.)

$106,000

$107,000

0.9%

$105,000

$107,000

1.9%

Laval – Ste-Rose (n.p.)

$102,000

$105,000

2.9%

$102,000

$105,000

2.9%

Longueuil – Collectivité Nouvelle (n.p.)

$168,000

$187,000

11.3%

$165,000

$187,000

13.3%

Longueuil – Pierre Boucher (n.p.)

n/a

$145,000

n/a

$136,000

$145,000

6.6%

NEW BRUNSWICK

Fredericton & District

$113,000

$113,000

0.0%

$113,000

$113,000

0.0%

Moncton

$98,000

$98,000

0.0%

$96,000

$98,000

2.1%

NOVA SCOTIA

Halifax - West

$160,000

$163,000

1.9%

$155,000

$163,000

5.2%

Dartmouth

$100,000

$103,000

3.0%

$99,000

$103,000

4.0%


NATIONAL SURVEY RESULTS

Changes in prices of typical houses

over six months and one year

 

PRINCE EDWARD ISLAND

Summerside

$84,000

$84,000

0.0%

$80,000

$84,000

5.0%

Charlottetown

$136,000

$136,000

0.0%

$132,000

$136,000

3.0%

NEWFOUNDLAND

St. John’s West*

$124,000

$126,000

1.6%

$122,000

$126,000

3.3%

* Typical house has been redefined as of June 2000. Data has been adjusted.

 

Additional details, including typical house descriptions for all communities, are available on the CENTURY 21 Canada website at http://www.century21canada.com/press.

 

This Press release is brought to you by www.globalpressreleases.com

 

For more information, contact:

 

Contact:                           TONY SLAVIN

Telephone:                       905-721-1144

Email:                               TSLAVIN@TREBNET.COM

Web site:                          www.century21excel.com

 

National Contact:            Madelaine Duke, James Hoggan and Associates Inc.

Telephone:                       (604) 739-7500

Email:                               mduke@hoggan.com