House Prices Rising in Canada

Canada House prices have shown signs of a continued strength despite worries across the border in the United States. The Canadian Real Estate Association (CREA) has predicted record numbers of sales for 2007 and increasing prices for existing houses. With the rising prices, many people are looking to invest in property, either to build now or for future use. The Canadian financial newspaper The Financial Post indicated in a recent article that home prices in the 25 largest markets reached an average price of just over $332,000 CND. With prices rising so much across the country, new construction is at all time highs and many are looking to invest in undeveloped property. The city of Saskatoon, in the western province of Saskatchewan, for example, is offering a five-year tax break on new condominium construction to help speed new units.