Just Released: Q3 2016 Royal LePage House Price Survey

Just Released: Q3 2016 Royal LePage House Price Survey

Just Released: Q3 2016 Royal LePage House Price Survey

To: Royal LePage Broker/Owners, Managers, Sales Representatives and Administrators

The Q3 2016 Royal LePage House Price Survey was released to media early this morning. Some highlights from the national release include:

  • Canada’s residential real estate market continued to grow in the third quarter of 2016, posting a 12.0 per cent year-over-year aggregate house price increase to $545,414.  The price of a two-storey home rose 13.7 per cent year-over-year to $649,635, and the price of a bungalow increased 11.0 per cent to $459,481. During the same period, the price of a condominium increased 5.8 per cent to $360,679.
  • Across Canada, real estate markets remain healthy, with home values showing modest to strong (yet rational) price appreciation in almost every Canadian city.  Even in the hardest hit oil patch regions, prices have held up well, with small single-digit declines, year-over-year.
  • The Government of British Columbia’s new 15 per cent property transfer surtax on foreign nationals and foreign-controlled corporations, introduced early in the quarter, has contributed to slower sales activity but has had little impact to-date on Greater Vancouver home prices, which led the country in appreciation with year-over-year home prices increasing by 30.6 per cent in the quarter.
  • Consumer confidence suffered a direct hit when the federal government introduced new, more restrictive regulations in early October. While it is too early to say definitively, it appears Canadian homebuyers are adjusting quickly, and that fears of a hard correction were unwarranted. While the changes are significant, major lenders may already be using similar criteria when writing mortgages in sensitive regions like Alberta and B.C., so the additional drag on the market resulting from the new legislation won’t be as great as it appears on the surface.

A big thank you to all of our spokespeople from across the country for their contributions in providing regional perspectives. We invite you to read regional releases which include more detail on area market trends.

Consumers, organizations and the media turn to Royal LePage for information on house price trends both nationally and in regional markets across the country. So far today we have seen great media coverage, including:

For those of you who missed Phil Soper’s Facebook Live with the Globe and Mail this morning, you can find it on Royal LePage’s Facebook Page.

CBC.cahttp://www.cbc.ca/news/canada/toronto/toronto-home-prices-still-soaring-but-the-suburbs-sizzling-even-more-royal-lepage-report-1.3802232
Globe and Mail: http://www.theglobeandmail.com/real-estate/the-market/vancouver-foreign-buyer-tax-could-prompt-mild-ripples-in-other-markets/article32338333/
BNN: http://www.bnn.ca/ottawa-s-new-housing-rules-not-catastrophic-royal-lepage-ceo-says-1.584208
BNN: http://www.bnn.ca/bnn-s-daily-chase-vancouver-s-final-hurrah-lithium-s-potential-bust-1.584334
Toronto Star: https://www.thestar.com/business/2016/10/13/the-905-feels-the-heat-from-torontos-hot-housing-market.html
Hamilton Spectator: http://www.thespec.com/news-story/6908009-the-905-feels-the-heat-from-toronto-s-housing-market/
Metronews Toronto: http://www.metronews.ca/news/toronto/2016/10/13/905-heating-up-real-estate.html
NewHamburgIndependent: http://www.newhamburgindependent.ca/news-story/6908009-the-905-feels-the-heat-from-toronto-s-housing-market/
CKTF ENERGIE FM 104.1: http://www.iheartradio.ca/energie/energie-gatineau-ottawa/nouvelles/plus-cheres-les-maisons-a-gatineau-ottawa-1.2023245
Financial Post (CP): http://business.financialpost.com/personal-finance/mortgages-real-estate/vancouver-home-prices-may-have-seen-final-hurrah-royal-lepage-says
Maclean’s: http://www.macleans.ca/economy/business/royal-lepage-ceo-vancouver-home-prices-may-have-seen-final-hurrah/
Canada.comhttp://www.canada.com/business/vancouver+home+prices+have+seen+final+hurrah+royal+lepage+says/12278087/story.html
Metro Toronto: http://www.metronews.ca/news/canada/2016/10/13/vancouver-home-prices-may-have-seen-final-hurrah-royal-lepage-says.html
CP24: http://www.cp24.com/news/vancouver-home-prices-may-have-seen-final-hurrah-royal-lepage-ceo-says-1.3113202
CityNews: http://www.citynews.ca/2016/10/13/vancouver-home-prices-may-have-seen-final-hurrah-royal-lepage-says/
570News: http://www.570news.com/2016/10/13/vancouver-home-prices-may-have-seen-final-hurrah-royal-lepage-says/
660News: http://www.660news.com/2016/10/13/vancouver-home-prices-may-have-seen-final-hurrah-royal-lepage-says/
AM640: http://www.640toronto.com/2016/10/13/residential-real-estate-continues-growth-in-third-quarter/
AM630: http://www.630ched.com/syn/60/173642/residential-real-estate-continues-growth-in-third-quarter
News1130: http://www.news1130.com/2016/10/13/vancouver-home-prices-may-have-seen-final-hurrah-royal-lepage-says/
CFJCToday: http://www.cfjctoday.com/article/544903/vancouver-home-prices-may-have-seen-final-hurrah-royal-lepage-says
680News: http://www.680news.com/2016/10/13/vancouver-home-prices-may-have-seen-final-hurrah-royal-lepage-says/
CanadianBusiness: http://www.canadianbusiness.com/business-news/vancouver-home-prices-may-have-seen-final-hurrah-royal-lepage-says/
Montreal Gazette: http://www.montrealgazette.com/business/vancouver+home+prices+have+seen+final+hurrah+royal+lepage/12278087/story.html
Vancouver Sun: http://www.vancouversun.com/business/vancouver+home+prices+have+seen+final+hurrah+royal+lepage+says/12278087/story.html
Surrey Leader: http://www.surreyleader.com/news/396944051.html
Chronicle Herald: http://thechronicleherald.ca/business/1405425-vancouver-home-prices-may-have-seen-final-hurrah-royal-lepage-says
Cbc.ca British Columbia: http://www.cbc.ca/news/canada/british-columbia/vancouver-real-estate-1.3803046
CTVNews Vancouver: http://bc.ctvnews.ca/vancouver-home-prices-may-have-seen-final-hurrah-royal-lepage-1.3113617
BCLocalNews: http://www.bclocalnews.com/news/396944051.html
AbbeyNews: http://www.abbynews.com/news/396944051.html
TheNow: http://www.thenownewspaper.com/news/396944051.html
Newsmaritimes.cahttp://newsmaritimes.ca/2016/10/13/vancouver-home-prices-may-have-seen-final-hurrah-royal-lepage-says/
MedicineHatNews: http://medicinehatnews.com/business/2016/10/13/vancouver-home-prices-may-have-seen-final-hurrah-royal-lepage-says/
KitchenerPost: http://www.kitchenerpost.ca/news-story/6908542-vancouver-home-prices-get-one-final-hurrah-/
The Sachem & Glanbrook Gazette: http://www.sachem.ca/news-story/6908542-vancouver-home-prices-get-one-final-hurrah-/
FlamboroughReview: http://www.flamboroughreview.com/news-story/6908542-vancouver-home-prices-get-one-final-hurrah-/
Times Colonist: http://www.timescolonist.com/vancouver-home-prices-may-have-seen-final-hurrah-royal-lepage-says-1.2364160
BrandonSun: http://www.brandonsun.com/business/breaking-news/vancouver-home-prices-may-have-seen-final-hurrah-royal-lepage-says-396910371.html
OrangevilleBanner: http://www.orangeville.com/news-story/6908542-vancouver-home-prices-get-one-final-hurrah-/
BrantNews: http://www.brantnews.com/news-story/6908542-vancouver-home-prices-get-one-final-hurrah-/
TheRecord: http://www.therecord.com/news-story/6908542-vancouver-home-prices-get-one-final-hurrah-/
GuelphMercury: http://www.guelphmercury.com/news-story/6908542-vancouver-home-prices-get-one-final-hurrah-/
WinnipegFreePress: http://www.winnipegfreepress.com/business/finance/vancouver-home-prices-may-have-seen-final-hurrah-royal-lepage-says-396910371.html
NorthBayNipissing: http://www.northbaynipissing.com/news-story/6908542-vancouver-home-prices-get-one-final-hurrah-/
OurWindsor: http://www.ourwindsor.ca/news-story/6908542-vancouver-home-prices-get-one-final-hurrah-/
Mississauga.comhttp://www.mississauga.com/news-story/6908542-vancouver-home-prices-get-one-final-hurrah-/
InsideToronto: http://www.insidetoronto.com/news-story/6908542-vancouver-home-prices-get-one-final-hurrah-/
OttawaCommunityNews: http://www.ottawacommunitynews.com/news-story/6908542-vancouver-home-prices-get-one-final-hurrah-/
InsideHalton: http://www.insidehalton.com/news-story/6908542-vancouver-home-prices-get-one-final-hurrah-/
CambridgeTimes: http://www.cambridgetimes.ca/news-story/6908542-vancouver-home-prices-get-one-final-hurrah-/
Sudbury.comhttps://www.sudbury.com/national/vancouver-home-prices-may-have-seen-final-hurrah-royal-lepage-says-437092
NewHamburgIndependent: http://www.newhamburgindependent.ca/news-story/6908542-vancouver-home-prices-get-one-final-hurrah-/
AlaskaHighwayNews: http://www.alaskahighwaynews.ca/vancouver-home-prices-may-have-seen-final-hurrah-royal-lepage-says-1.2364160
SquamishChief: http://www.squamishchief.com/vancouver-home-prices-may-have-seen-final-hurrah-royal-lepage-says-1.2364160
LillooetNews: http://www.lillooetnews.net/vancouver-home-prices-may-have-seen-final-hurrah-royal-lepage-says-1.2364160
WhistlerQuestion: http://www.whistlerquestion.com/news/vancouver-home-prices-may-have-seen-final-hurrah-royal-lepage-says-1.2364160
CoastReporter: http://www.coastreporter.net/vancouver-home-prices-may-have-seen-final-hurrah-royal-lepage-says-1.2364160
KelownaDailyCourier: http://www.kelownadailycourier.ca/news/national_news/article_3e158d7c-1e79-5775-9d49-333657b34ceb.html
ThompsonCitizen: http://www.thompsoncitizen.net/news/vancouver-home-prices-may-have-seen-final-hurrah-royal-lepage-says-1.2364160
BattlefordsNewsOptimist: http://www.newsoptimist.ca/news/northwest-region/vancouver-home-prices-may-have-seen-final-hurrah-royal-lepage-says-1.2364160
WaterlooChronicle: http://www.waterloochronicle.ca/news-story/6908542-vancouver-home-prices-get-one-final-hurrah-/
YorktonNews: http://www.yorktonnews.com/vancouver-home-prices-may-have-seen-final-hurrah-royal-lepage-says-1.2364160
InsideBrockville: http://www.insidebrockville.com/news-story/6908542-vancouver-home-prices-get-one-final-hurrah-/
ChronicleJournal: http://www.chroniclejournal.com/news/national/vancouver-home-prices-may-have-seen-final-hurrah-royal-lepage/article_67ab905a-7180-552d-b113-27c0586e8daf.html
DurhamRegion: http://www.durhamregion.com/news-story/6908542-vancouver-home-prices-get-one-final-hurrah-/
MissionRecord: http://www.missioncityrecord.com/news/396944051.html
WeyburnReview: http://www.weyburnreview.com/news/vancouver-home-prices-may-have-seen-final-hurrah-royal-lepage-says-1.2364160
BrandonSun: http://www.brandonsun.com/business/breaking-news/vancouver-home-prices-may-have-seen-final-hurrah-royal-lepage-says-396910371.html?thx=y
HumboldtJournal: http://www.humboldtjournal.ca/news/local-news/vancouver-home-prices-may-have-seen-final-hurrah-royal-lepage-says-1.2364160
Global News: http://globalnews.ca/news/2998601/toronto-real-estate-prices-continue-to-soar-while-suburbs-work-to-catch-up-report/
Calgary Herald: http://calgaryherald.com/business/real-estate/home-prices-slip-slightly-in-calgary-survey
Winnipeg Sun: http://www.winnipegsun.com/2016/10/13/condo-prices-falling-in-winnipeg
Calgary Sun: http://www.calgarysun.com/2016/10/13/calgary-home-prices-dip-in-late-2016-royal-lepage
Moneysense.cahttp://www.moneysense.ca/spend/real-estate/is-now-the-final-hurrah-of-vancouvers-high-home-prices/
OttawaBusinessJournal: http://www.obj.ca/Real-Estate/Residential/2016-10-13/article-4662623/Home-prices-in-Ottawa-still-well-below-national-average%3A-Royal-LePage/1
CBC Calgary: http://www.cbc.ca/news/canada/calgary/calgary-house-prices-royal-lepage-q3-2016-1.3802940
AM900: http://www.900chml.com/syn/60/173642/residential-real-estate-continues-growth-in-third-quarter
Inews880: http://www.inews880.com/syn/60/173642/residential-real-estate-continues-growth-in-third-quarter
AM730: http://www.am730.ca/syn/60/173642/residential-real-estate-continues-growth-in-third-quarter
Newstalk770: http://www.newstalk770.com/syn/60/173642/residential-real-estate-continues-growth-in-third-quarter
CJOB680: http://www.cjob.com/syn/60/173642/residential-real-estate-continues-growth-in-third-quarter
MortgageBrokerNews.cahttp://www.mortgagebrokernews.ca/news/real-estate-firm-releases-third-quarter-housing-report-215396.aspx
Inews880: http://www.inews880.com/syn/66/87229/87229
640Toronto: http://www.640toronto.com/syn/66/87229/87229
DailyHive: http://dailyhive.com/vancouver/third-quarter-home-prices-greater-vancouver-2016
TVANouvelles: http://www.tvanouvelles.ca/2016/10/13/la-plus-forte-hausse-des-prix-des-maisons-en-cinq-ans
660News: http://www.660news.com/2016/10/13/calgary-housing-prices-take-another-quarterly-dip-rebound-around-corner/
Advisor.cahttp://www.advisor.ca/news/economic/hot-housing-market-still-sizzles-in-third-quarter-217237
570News: http://www.570news.com/2016/10/13/survey-house-prices-waterloo-region-9-q3/
News1130: http://www.news1130.com/2016/10/13/local-home-prices-seen-final-hurrah-royal-lepage/
CJME: http://cjme.com/article/925169/house-prices-flat-condo-prices-drop-regina
AM730: http://www.am730.ca/syn/112/231142/the-last-hurrah-for-vancouvers-housing-market-so-says-royal-lepage
CJOB: http://www.cjob.com/syn/112/231142/the-last-hurrah-for-vancouvers-housing-market-so-says-royal-lepage
AM630: http://www.630ched.com/syn/112/231142/the-last-hurrah-for-vancouvers-housing-market-so-says-royal-lepage
iNews880: http://www.inews880.com/syn/112/231142/the-last-hurrah-for-vancouvers-housing-market-so-says-royal-lepage
AM640: http://www.640toronto.com/syn/112/231142/the-last-hurrah-for-vancouvers-housing-market-so-says-royal-lepage
Newstalk770: http://www.newstalk770.com/syn/112/231142/the-last-hurrah-for-vancouvers-housing-market-so-says-royal-lepage
AM900: http://www.900chml.com/syn/112/231142/the-last-hurrah-for-vancouvers-housing-market-so-says-royal-lepage
CKNW: http://www.cknw.com/2016/10/13/the-last-hurrah-for-vancouvers-housing-market-so-says-royal-lepage/

Feel free to share some of these articles on your social media platforms.

Thank you,
Sandra Webb

 

 

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