Home prices still showing gains

Home prices showed moderate to strong year-over-year increases in most markets in Canada during the third quarter of 2015, according to the Royal LePage House Price Survey.

The survey, which analyzes house values in 53 of the nation’s largest real estate markets, showed that the price of a home in Canada increased eight per cent year-over-year to $502,643 in the third quarter.

The price of a two-storey home rose 9.9 per cent year-over-year to $615,304, and the price of a bungalow increased 6.8 per cent to $421,757.

During the same period, the price of a condominium increased 2.7 per cent to $338,945.

The Greater Toronto Area‘s aggregate year-over-year increases were 11.3 per cent to $612,261, while Greater Vancouver prices were up by 12.9 per cent to $928,532.