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Residential Housing have posted significant Gains since 1981
Despite the cyclical nature of the business, an analysis of 17 housingmarkets across the country found that price appreciation topped 240 per centin seven areas, including Barrie (372 per cent), St. Catharines(329 per cent), Hamilton-Burlington (325 per cent), Ottawa (297 per cent),Greater Toronto Area (290 per cent), Greater Vancouver Area andHalifax-Dartmouth (242 per cent increase). Victoria reported a 229 per centincrease, London experienced an upswing of 228 per cent, Calgary was up 227per cent, and Kelowna rounded out the top 10 at 211 per cent."The results are nothing short of remarkable, given the economicvolatility of the marketplace in the past 25-year period," says Elton Ash,Regional Executive Vice President, RE/MAX of Western Canada. "This isespecially true in recent years when serious external factors such as 9/11,SARS, and an outbreak of forest fires barely registered on housing activity.Any one of these disasters would have had a significant impact on real estatemarkets in the 1980s."Nationally, average price appreciated 264 per cent (11 per cent annually)in the 25-year period, rising from $76,021 to an estimated $277,000 in 2006.Although a number of factors contributed to the substantial upswing in values,perhaps the greatest influence was a 25 per cent increase in Canada'spopulation (which rose from 24,820,393 to ... more

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