Winnipeg Free Press - ONLINE EDITION

Winnipeg home prices jumped 160 per cent over 10 years: report

  • Print

The rest of Canada is learning what most Winnipeg homebuyers already knew — house prices here have been increasing at one of the fastest paces in the country over the past decade.

A new report released today by real estate giant Re/Max said the price of an average home in Winnipeg skyrocketed by 160.1 per cent between 2002 and 2012, soaring to $255,058 from $98,054.

That was the third fastest growth rate among the 16 Canadian cities included in the Re/Max Move-Up Buyers Report. Regina and Saskatoon saw the biggest price growth, at 198.9 and 165.4 per cent respectively.

Winnipeg also had the second-strongest price growth over the last five years, at 49.6 per cent versus Regina’s 81.8 per cent, the report states.

That compares to a national average growth rate of 93.3 per cent for the 10-year period, and 18.4 per cent for the last five years.

"Strong economic fundamentals helped fuel record price appreciation in markets like Regina, Saskatoon and Winnipeg," Elton Ash, regional vice-president of Re/Max of Western Canada, said in a written statement.

But Ash said that despite the big upswing in housing values, prices in the three Prairie cities "remain surprisingly affordable."

He said confidence in home ownership continues to fuel home-buying activity in most major Canadian cities, particularly in the move-up segment of the market.

"Equity gains have been a primary driver, with return on investment exceptionally strong in the past decade," he added.

That has reduced the time between purchases, the report said, with first-time buyers generally prepared to move up to a higher-priced home within four to seven years of their initial purchase.

murray.mcneill@freepress.mb.ca

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Kevin Cheveldayoff announces Maurice contract extension

View more like this

Photo Store Gallery

  • A goose cools off Thursday in water at Omands Creek Park-See Bryksa 30 day goose challenge- Day 25– June 21, 2012   (JOE BRYKSA / WINNIPEG FREE PRESS)
  • Two Canada geese fly Wednesday afternoon at Oak Hammock Marsh- Front bird is banded for identification- Goose Challenge Day 3- - Apr 30, 2012   (JOE BRYKSA / WINNIPEG FREE PRESS)

View More Gallery Photos

Poll

Now that the snow is mostly gone, what are your plans?

View Results

Ads by Google