Report: Oshawa home price increase “Vancouver-like”
City saw 26.9 per cent bumo over 2015
A report by realtor Royal LePage found that the average price of a home in Oshawa at the end of 2016 was up 26.9 per cent over the year before. The report says an increase of that magnitude is “Vancouver-like,” referencing the growing real estate prices seen in the British Columbia city.
Oshawa saw substantial increases in its home prices to end the year.
According to a new report by realtor Royal LePage, Oshawa saw the aggregate price of a home go up by 26.9 per cent compared to last year, bringing the average price to $471,957. The report, which dubbed this increase “Vancouver-like,” notes that suburbs surrounding Toronto saw some of the highest increases, with Whitby at 21.3 per cent to $610,658 and Richmond Hill at 30.1 per cent to more than $1.1 million.
The report also forecasts that in 2017, the average price of a new home in the GTA will be going up 10 per cent, making it the highest projected increase in the country.
The largest increases in Canada were seen in British Columbia, with the aggregate price of a home in Greater Vancouver rising 25.6 per cent year-over-year to more than $1.23 million, while West Vancouver rose 32.8 per cent to more than $3.5 million.