Toronto, Vancouver prices soaring says Re/Max
A report from Re/Max shows that first-quarter home prices in Toronto and Vancouver increased sharply. In Vancouver, a 7 per cent rise in prices in a year means an average sale price of $874,869. In Toronto there has been an 8 per cent increase to an average of $594,827. The higher prices have also benefitted nearby areas as workers opt to live a bit further out to get more for their money. Victoria sales have soared by 23 per cent in the past year with average selling prices up 2 per cent to $569,070 while Hamilton-Burlington has seen a rise of 8 per cent to $443,706. The report also shows that there are more single buyers of homes nationwide.