Home builders in Winnipeg and surrounding communities had a busy month in June with total starts of 437 units — almost twice as many as there were in the same month the year before.
Canada Mortgage and Housing Corp. (CMHC) reported a 50 per cent increase in single family detached starts in June to 193 and 142 per cent increase in multi-family units to 244 over June 2012 numbers.
This follows a big dropoff last month in Winnipeg when starts were down 58 per cent compared to May 2012.
As for prices, the Royal LePage House Price Survey and Market Survey Forecast released today reports that the Winnipeg housing market witnessed significant appreciation in prices, with multiple offer scenarios and a strong demand for condominiums driving the increases.
While detached bungalow prices remained relatively flat, rising by 0.6 per cent to $305,010, standard two-storey home prices grew by 7.1 per cent to $344,598, and standard condominiums increased by 4.4 per cent to $198,431. The average price of a home in Winnipeg is forecast to rise by 3.9 per cent year over year by the end of 2013.
Royal LePage forecasts that average house prices in Canada will see modest gains throughout the remainder of 2013, projecting a 3.0 per cent increase for the full year when compared to 2012.