Canada: House Prices Still Rising
Each month, The Canadian Real Estate Association compiles the statistics of existing homes and properties sold. The average price of a house sold in May in Canada was $318,761 an increase of 1.8 percent over the year. The residential average price is forecast to rise 5.3 percent in 2008 and a further 4.2 percent next year, pushing prices to new heights. Price gains are predicted to become smaller as the resale housing market becomes more balanced. The market is forecast to remain tightest in Saskatchewan and Manitoba, and as a result price increases there are expected to be biggest.
House Prices In Canada
May 2008
| Province | House Price $ (£) | 12 Month % change |
| Nova Scotia | 202,569 (99,664) | 8.2 |
| Prince Edward Island | 126,661 (62,317) | -0.2 |
| New Brunswick | 152,823 (75,189) | 7.5 |
| Newfoundland & Labrador | 170,999 (84,132) | 20.8 |
| Quebec | 219,886 (108,184) | 3.7 |
| Ontario | 316,103 (155,523) | 4.1 |
| Manitoba | 203,671 (100,206) | 12.9 |
| Saskatchewan | 233,340 (114,803) | 34.9 |
| Alberta | 360,284 (177,260) | -0.9 | British Columbia | 477,448 (234,904) | 6.3 |
| Northwest Territories | 331,939 (163,314) | 4.9 |
| Yukon | 304,871 (149,997) | 17.8 |
assumed exchange rate $1.00 = £0.492
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