According to Statistics Canada, house prices are rising faster in Saskatoon than in any other city in the Country.
Statistics Canada says the price of a new home in Saskatoon rose by 4.5 percent between December and January. That compared with a national average increase of 0.6 percent from December to January.
It says the increase was due to a number of factors, including increased costs for material and labour, strong market conditions, and increased demand for land.
The Saskatoon increase in January follows a price increase of 51.7 percent in 2007, which was also the highest price increase in Canada.
There was no change in the price of a new home in Regina in January. The price of a new home in Calgary increased by 0.3 percent in January, while the price of a new home in Edmonton decreased by 0.5 percent in January.
You can see the entire Statistics Canada report by clicking here.
Tuesday
House prices fastest-rising in Saskatoon
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No increase in Regina's average house price in January (from Dec) but 0.6% increase in Saskatoon? Regina wages are on average higher than Saskatoon. And the same market fundamentals, same government (except Regina's mayor has a worse relationship with city employees), same resources under lie that much cheaper city. Makes you wonder how much of what we hear about Saskatoon is just "Boosterism" which is too bad, as house prices keep rising at a far greater clip than wages.
Apparently, the slide in sales started in the west:
http://www.financialpost.com/story.html?id=452827
http://www.royallepage.ca/CMSTemplates/AboutUs/Company/CompanyTemplate.aspx?id=1746
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