21 Hottest Neighbourhoods in Canada
- Prices up by 17% in past year in hottest market
- HOTTEST 21 NEIGHBOURHOODS span five cities, 10 suburbs
- 32 of 190 neighbourhoods had price increases over the past year & month
- 117 of 190 neighbourhoods had price increases over the past month
FOR IMMEDIATE RELEASE:
June 11, 2009
VANCOUVER - Housing markets in a handful of neighbourhoods in Canada's major cities have dodged the recession and experienced robust price increases over the past year, according to a CENTURY 21 Canada "HOTTEST 21 NEIGHBOURHOODS" survey released today.
CENTURY 21 Canada also reported that more than a hundred other big city neighbourhoods are experiencing resurgent house prices after months of languishing in the recession doldrums.
CENTURY 21 Canada said Canada's HOTTEST 21 NEIGHBOURHOODS for housing prices are located in five major cities and 10 suburbs of major cities:
- Over the past year, from April 2008 to April 2009, average prices in these HOTTEST 21 NEIGHBOURHOODS increased by up to 17%.
- Over the past month, from March 2009 to April 2009, average prices in these HOTTEST 21 NEIGHBOURHOODS increased by up to 16%.
The CENTURY 21 Canada survey shows that the HOTTEST 21 NEIGHBOURHOODS were in Toronto (three); Toronto suburbs (eight); Vancouver (two); Vancouver suburbs (one); Ottawa (one); Ottawa suburbs (two); Winnipeg (two); Halifax (one); and Regina (one). All of the HOTTEST 21 NEIGHBOURHOODS experienced price increases over the past year and over the past month.
Don Lawby, President of CENTURY 21 Canada, said, "These survey results support what I am seeing in my annual June Canada-wide tour of housing markets. Although most markets have been impacted by the recession, some have neighbourhoods in which prices are resilient and stronger today than a year ago and many have neighbourhoods that are getting stronger month by month this spring."
"This survey serves as a reminder to Canadian homeowners to avoid relying on city, provincial or national averages to gauge their local neighbourhood housing markets. Instead, sellers should monitor selling prices of similar homes in their own neighbourhoods. Buyers should monitor selling prices of typical homes in the neighbourhoods where they want to live," said Lawby.
The CENTURY 21 Canada survey covered 10 major cities (Halifax, Ottawa, Toronto, Winnipeg,
Regina, Saskatoon, Calgary, Edmonton, Vancouver and Victoria) by Canada Post Forward Sorting Areas (FSAs) which are the equivalents of large neighbourhoods. FSAs are the first three digits of Canada's postal codes. Data was compiled for 190 of these neighbourhoods in which at least 30 housing units were sold during March 2009. Quebec data was not available for this survey and is therefore not included.
Click here for the complete Press Release
Posted by Craig B Rushton, CENTURY 21 In Town Realty, 604.505.6503, www.craigrushton.com