Prices Up – Market Down Toronto’s average price increases 11.3 percent to $432,679. Canadian home-price increases moderated in the first quarter, but remained solid due to a strong economy, high immigration levels, Prices Up – Market Down
Toronto’s average price increases 11.3 percent to $432,679.

Canadian home-price increases moderated in the first quarter, but remained solid due to a strong economy, high immigration levels, and relatively low interest rates, according to a report released by Royal LePage Real Estate Services. Nationally, the average price of a detached bungalow climbed 8.3 percent to $336,834 in the first three months of 2008, according to their latest House Price Survey.

The price of a standard two-storey homes rose 7.1 percent year-over-year to $400,647, on average, and a standard condominium increased 6.9 percent to $240,423.

While those increases were down from the double-digit rises of previous quarters, they still stand in stark contrast to the hobbled U.S. housing market.

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