Real Estate

Ottawa home prices will continue to skyrocket No.1 in 2021: Royal Lepage

  • Last Updated:
  • Dec 16th, 2020 8:58 pm
3 replies
Deal Guru
Feb 22, 2011
10177 posts
12613 upvotes
Toronto
In before bears complain about the source
Member
Nov 12, 2019
345 posts
541 upvotes
Here is the link to the actual Royal Lepage report:

https://www.royallepage.ca/en/realestat ... increases/
https://marketing.rlpnetwork.com/Commun ... recast.pdf

Notice that the report only has predictions for the the following regions:
Greater Toronto Area
Greater Vancouver
Ottawa
Calgary
Edmonton
Halifax
Winnipeg
Regina

So it includes only the capital cities + a couple of others. The fastest price growth in 2020 has been smaller medium sized cities.

Interestingly, Lepage thinks that condo prices in GTA will rise only 0.5% next year, which is certainly not skyrocketing territory like what some is predicting.
In the Greater Toronto Area, the aggregate price of a home in 2021 is forecast to increase 5.75 per cent year-over-year to $990,300. During the same period, the median price of a standard two-storey home is expected to rise 7.5 per cent to $1,185,800, while the median price of a condominium is forecast to increase 0.5 per cent to $600,800. The relatively flat median price projection for the condominium segment reflects a modest increase in median price for condominiums in the 905 area, offsetting a slight dip in median price for the City of Toronto.
[OP]
Member
Nov 1, 2020
364 posts
182 upvotes
RaC1550 wrote: Interestingly, Lepage thinks that condo prices in GTA will rise only 0.5% next year, which is certainly not skyrocketing territory like what some is predicting.
yeah, this report is kinda bearish on condo overall

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