The Rick Wearing & Sandra Parrott Team
The Rick Wearing & Sandra Parrott Team - Real Estate...Real experience, integrity, commitment & results!™
The Rick Wearing &
Sandra Parrott Team
Rick Wearing,
BA, MVA-Residential, Broker
Sandra Parrott,
L.L.B Sales Representative
Phone: (705) 788-3535
Fax: (705) 788-0207
Toll Free: (866) 844-2697



Just Released: Q1 2017 Royal LePage House Price Survey


The Q1 2017 Royal LePage House Price Survey was released to media early this morning.

Key highlights from the national release include:

  • Canada's residential real estate market saw substantial price growth in the first quarter of 2017. While the majority of Canadian housing markets posted modest gains, price appreciation across much of Ontario significantly outpaced the rest of the country. Meanwhile, the pace of year-over-year home price appreciation in Greater Vancouver was noticeably lower than the historic highs witnessed in 2016, and for the first time since 2013, home values for the region as a whole declined on a quarterly basis.
  • In the first quarter of 2017, the median price of a home in Canada increased 12.6 per cent year-over-year to $574,575. When broken out by housing type, the price of a two-storey home rose 13.9 per cent year-over-year to $681,728, and the price of a bungalow climbed 10.9 per cent to $490,018. During the same period, the price of a condominium increased 8.9 per cent to $373,768. 
  • Strong economic improvement is underway in Quebec, thanks to a provincial government surplus, a refreshed focus on attracting business investment in the region and the best unemployment rate in 40 years. The province's economic performance is being reflected in its residential housing market which has displayed healthy home appreciation in recent months.
  • With the recent stabilization of oil prices, Alberta will likely be the fastest growing provincial economy this year. This positive momentum has proved supportive of the residential housing market.

A big thank you to all of our spokespeople from across the country for their contributions in providing regional perspectives. We invite you to read the regional releases, which include insights and trends on select real estate markets where media reach is highest.

Consumers, organizations and the media turn to Royal LePage as a trusted source for expert information on house price trends both nationally and in regional markets across the country. So far today we have seen great media coverage, including:

BNNhttp://www.bnn.ca/royal-lepage-warns-against-hasty-policy-moves-to-cool-toronto-housing-1.726340

BNNhttp://www.bnn.ca/bnn-s-daily-chase-tory-morneau-sousa-huddle-on-housing-as-royal-lepage-issues-action-warning-1.727130

Financial Post: http://business.financialpost.com/personal-finance/mortgages-real-estate/more-rules-on-toronto-housing-will-risk-market-whiplash-warns-lepage-ahead-of-major-housing-meeting

Globe and Mail: http://www.theglobeandmail.com/real-estate/the-market/vancouver-housing-market-poised-for-spring-rebound-royal-lepage/article34726396/

Toronto Star: https://www.thestar.com/business/2017/04/18/most-in-toronto-back-ottawa-cooling-the-housing-market-poll.html

Metro News Vancouver: http://www.metronews.ca/news/vancouver/2017/04/18/metro-vancouver-home-values-see-quarterly-decline.html

Metro News Halifax: http://www.metronews.ca/news/halifax/2017/04/18/halifax-housing-prices-three-per-cent-below-national-average.html

CBC News National: http://www.cbc.ca/news/business/toronto-housing-summit-1.4072808

CBC News Toronto: http://www.cbc.ca/news/canada/toronto/richmond-hill-takes-crown-as-canada-s-hottest-housing-market-1.4073108

Yahoo! News: https://ca.news.yahoo.com/richmond-hill-takes-crown-canada-100000086.html

CBC News Toronto: http://www.cbc.ca/news/canada/toronto/programs/metromorning/john-tory-housing-crisis-1.4073524          

CBC News Saskatoon: http://www.cbc.ca/news/canada/saskatoon/average-price-saskatoon-home-1.4073123

Yahoo! News: https://ca.news.yahoo.com/average-price-saskatoon-home-down-121500657.html

CBC Newfoundland and Labrador: http://www.cbc.ca/news/canada/newfoundland-labrador/house-prices-fall-stjohns-roya-lepage-1.4073532

Yahoo! News: https://ca.news.yahoo.com/home-buying-cheaper-st-john-140450201.html

CTV News National: http://www.ctvnews.ca/business/should-toronto-borrow-from-vancouver-s-real-estate-playbook-1.3373302?autoPlay=true

CTV News Calgary: http://calgary.ctvnews.ca/reports-show-average-home-prices-in-calgary-have-gone-up-1.3373210

CTV News Montreal: http://montreal.ctvnews.ca/housing-prices-up-4-9-in-montreal-area-1.3373308

Global News: http://globalnews.ca/news/3385355/saskatoon-housing-prices-flat-in-q1-2017-royal-lepage/

660 News: http://www.660news.com/2017/04/18/calgary-house-prices-jump-first-time-year/

iNews880: http://www.inews880.com/syn/112/297599/price-reset-underway-in-metro-vancouver-housing-market

Newstalk 770: http://www.newstalk770.com/syn/112/297599/price-reset-underway-in-metro-vancouver-housing-market

630 CHEDhttp://www.630ched.com/syn/112/297599/price-reset-underway-in-metro-vancouver-housing-market

AM 730: http://www.am730.ca/syn/112/297599/price-reset-underway-in-metro-vancouver-housing-market

680 CJOBhttp://www.cjob.com/syn/112/297599/price-reset-underway-in-metro-vancouver-housing-market

CKNW 980: http://www.cknw.com/2017/04/18/price-reset-underway-in-metro-vancouver-housing-market/

Calgary Herald: http://calgaryherald.com/business/real-estate/house-prices-increase-slightly-in-calgary-continue-to-soar-in-toronto-royal-lepage

Edmonton Journal: http://edmontonjournal.com/news/local-news/first-quarter-house-prices-flat-in-edmonton-soar-in-ontario

Edmonton Sun: http://www.edmontonsun.com/2017/04/17/first-quarter-house-prices-flat-in-edmonton-soar-in-ontario

Winnipeg Free Press: http://www.winnipegfreepress.com/business/new-mortgage-rules-a-factor-in-house-price-decline-419724783.html

Regina Leader-Post: http://leaderpost.com/news/local-news/average-price-of-a-regina-home-up-1-8-condos-down-11-3

980 CJMEhttp://cjme.com/article/1227694/house-prices-condo-prices-down-regina

News 1130: http://www.news1130.com/2017/04/18/despite-price-drop-housing-market-royal-lepage/

TVA Nouvelleshttp://www.tvanouvelles.ca/2017/04/18/le-marche-est-sain-au-quebec-selon-royal-lepage

Mortgage Broker News: http://www.mortgagebrokernews.ca/news/5-highlights-from-the-latest-housing-report-224264.aspx

Belleville Intelligencerhttp://www.intelligencer.ca/2017/04/18/average-home-price-climbs-in-quinte

Financial Post (CP): http://business.financialpost.com/personal-finance/mortgages-real-estate/five-reasons-experts-say-toronto-home-prices-are-going-through-the-roof

570 News (CP): http://www.570news.com/2017/04/18/early-signs-that-vancouver-housing-market-correction-may-be-over-royal-lepage/

660 News: http://www.660news.com/2017/04/18/early-signs-that-vancouver-housing-market-correction-may-be-over-royal-lepage/

680 New: http://www.680news.com/2017/04/18/early-signs-that-vancouver-housing-market-correction-may-be-over-royal-lepage/

1310 News: http://www.1310news.com/2017/04/18/early-signs-that-vancouver-housing-market-correction-may-be-over-royal-lepage/

Battlefords Now: http://battlefordsnow.com/article/558535/early-signs-vancouver-housing-market-correction-may-be-over-royal-lepage

Bay Today: https://www.baytoday.ca/national/early-signs-that-vancouver-housing-market-correction-may-be-over-royal-lepage-590787

Brampton Guardian: http://www.bramptonguardian.com/news-story/7247995-royal-lepage-vancouver-market-risks-whiplash-/

Brandon Sun: http://www.brandonsun.com/business/breaking-news/early-signs-that-vancouver-housing-market-correction-may-be-over-royal-lepage-419685113.html?thx=y

Cape Breton Post: http://www.capebretonpost.com/business/2017/4/18/early-signs-that-vancouver-housing-market-correction-may-be-over-royal-lepage.html

CFJC Today: http://www.cfjctoday.com/article/567834/early-signs-vancouver-housing-market-correction-may-be-over-royal-lepage

Chat News Today: http://chatnewstoday.ca/article/508582/early-signs-vancouver-housing-market-correction-may-be-over-royal-lepage

Chronicle Herald: http://thechronicleherald.ca/business/1460631-early-signs-that-vancouver-housing-market-correction-may-be-over-royal-lepage

Chronicle Journal: http://www.chroniclejournal.com/news/national/early-signs-that-vancouver-housing-market-correction-may-be-over/article_a4cf1dc0-6935-5637-a901-009713f376de.html

City News: http://www.citynews.ca/2017/04/18/early-signs-that-vancouver-housing-market-correction-may-be-over-royal-lepage/

CKOM AM650: http://ckom.com/article/1473732/early-signs-vancouver-housing-market-correction-may-be-over-royal-lepage

CP24: http://www.cp24.com/news/gta-home-prices-rose-by-20-per-cent-in-1st-quarter-of-2017-royal-lepage-1.3372978

CTV News National: http://www.ctvnews.ca/business/early-signs-vancouver-housing-market-correction-may-be-over-royal-lepage-1.3373158

CTV News Toronto: http://toronto.ctvnews.ca/gta-home-prices-rose-by-unprecedented-20-per-cent-in-1st-quarter-of-2017-report-1.3373035

Durham Region: http://www.durhamregion.com/news-story/7247995-royal-lepage-vancouver-market-risks-whiplash-/

GuelphToday.com: https://www.guelphtoday.com/national-news/early-signs-that-vancouver-housing-market-correction-may-be-over-royal-lepage-590787

Hamilton Spectator: http://www.thespec.com/news-story/7247995-royal-lepage-vancouver-market-risks-whiplash-/

Humboldt Journal: http://www.humboldtjournal.ca/news/local-news/early-signs-that-vancouver-housing-market-correction-may-be-over-royal-lepage-1.15790531

Infotel.ca: http://infotel.ca/newsitem/royal-lepage-report/cp1700195905

InsideHalton.com: http://www.insidehalton.com/news-story/7247995-royal-lepage-vancouver-market-risks-whiplash-/

InsideOttawaValley.com: http://www.insideottawavalley.com/news-story/7247995-royal-lepage-vancouver-market-risks-whiplash-/

InsideToronto.com: http://www.insidetoronto.com/news-story/7247995-royal-lepage-vancouver-market-risks-whiplash-/

InvesBrainhttp://invesbrain.com/item/signs-vancouver-housing-correction-may-be-over-102808

Kelowna Daily Courier: http://www.kelownadailycourier.ca/news/national_news/article_c7faa18a-3d90-506e-880f-51e9e7177088.html

Lethbridge Herald: http://lethbridgeherald.com/business/2017/04/18/early-signs-that-vancouver-housing-market-correction-may-be-over-royal-lepage/

LocalXpress.ca: https://www.localxpress.ca/national-news/early-signs-that-vancouver-housing-market-correction-may-be-over-royal-lepage-590787

Macleanshttp://www.macleans.ca/economy/vancouvers-housing-correction-could-be-over/

Meadowlake Now: http://meadowlakenow.com/article/555752/early-signs-vancouver-housing-market-correction-may-be-over-royal-lepage

Medicine Hat News: http://medicinehatnews.com/business/2017/04/18/early-signs-that-vancouver-housing-market-correction-may-be-over-royal-lepage/

Melita New Era: http://www.melitanewera.ca/news/early-signs-that-vancouver-housing-market-correction-may-be-over-royal-lepage-1.15790531

Metro News Toronto: http://www.metronews.ca/business/2017/04/18/early-signs-that-vancouver-housing-market-correction-may-be-over-royal-lepage.html

Mississauga.com: http://www.mississauga.com/news-story/7247995-royal-lepage-vancouver-market-risks-whiplash-/

MoneySensehttp://www.moneysense.ca/spend/real-estate/vancouver-housing-market-correction-over/

MuskokaRegion.com: http://www.muskokaregion.com/news-story/7247995-royal-lepage-vancouver-market-risks-whiplash-/

MyKawartha.com: http://www.mykawartha.com/news-story/7247995-royal-lepage-vancouver-market-risks-whiplash-/

MyMcMurrayhttp://www.mymcmurray.com/2017/04/18/early-signs-that-vancouver-housing-market-correction-may-be-over-royal-lepage/

Nanaimo News Now: http://nanaimonewsnow.com/article/532831/early-signs-vancouver-housing-market-correction-may-be-over-royal-lepage

National Newswatchhttp://www.nationalnewswatch.com/2017/04/18/early-signs-that-vancouver-housing-market-correction-may-be-over-royal-lepage/#.WPYDN_nyvIU

News 1130: http://www.news1130.com/2017/04/18/early-signs-that-vancouver-housing-market-correction-may-be-over-royal-lepage/

NorthumberlandNews.com: http://www.northumberlandnews.com/news-story/7247995-royal-lepage-vancouver-market-risks-whiplash-/

OttawaCommunityNewshttp://www.ottawacommunitynews.com/news-story/7247995-royal-lepage-vancouver-market-risks-whiplash-/

Penticton Herald: http://www.pentictonherald.ca/news/national_news/article_3356e061-7e62-5cec-ac89-c9d1458a8b98.html

Price Albert Now: http://panow.com/article/668162/early-signs-vancouver-housing-market-correction-may-be-over-royal-lepage

Red Deer News Now: http://rdnewsnow.com/article/534556/early-signs-vancouver-housing-market-correction-may-be-over-royal-lepage

Simcoe.com: http://www.simcoe.com/news-story/7247995-royal-lepage-vancouver-market-risks-whiplash-/

Sootoday.com: https://www.sootoday.com/national-news/early-signs-that-vancouver-housing-market-correction-may-be-over-royal-lepage-590787

Souris Plain Dealer: http://www.sourisplaindealer.ca/news/early-signs-that-vancouver-housing-market-correction-may-be-over-royal-lepage-1.15790531

Sudbury.com: https://www.sudbury.com/national/early-signs-that-vancouver-housing-market-correction-may-be-over-royal-lepage-590787

TB News Watch: https://www.tbnewswatch.com/national-news/early-signs-that-vancouver-housing-market-correction-may-be-over-royal-lepage-590787

The Chronicle Herald: http://thechronicleherald.ca/business/1460631-early-signs-that-vancouver-housing-market-correction-may-be-over-royal-lepage

The Guardian: http://www.theguardian.pe.ca/business/2017/4/18/early-signs-that-vancouver-housing-market-correction-may-be-over-royal-lepage.html

The Province: http://www.theprovince.com/news/local+news/early+signs+that+vancouver+housing+market+correction+over/13308238/story.html

The Record: http://www.therecord.com/news-story/7247995-royal-lepage-vancouver-market-risks-whiplash-/

Thompson Citizen: http://www.thompsoncitizen.net/entertainment/arts-entertainment/early-signs-that-vancouver-housing-market-correction-may-be-over-royal-lepage-1.15790531

Times Colonist: http://www.timescolonist.com/early-signs-that-vancouver-housing-market-correction-may-be-over-royal-lepage-1.15790531

TMX Money: http://app.tmxmoney.com/news/cpnews/article?locale=EN&newsid=TG7d74

Todayville.com: https://www.todayville.com/reddeer/early-signs-that-vancouver-housing-market-correction-may-be-over-royal-lepage-2/

Winnipeg Free Press: http://www.winnipegfreepress.com/canada/early-signs-that-vancouver-housing-market-correction-may-be-over-royal-lepage-419685113.html

Yahoo! News: https://ca.news.yahoo.com/early-signs-vancouver-housing-market-100004542.html

YorkRegion.com: http://www.yorkregion.com/news-story/7247995-royal-lepage-vancouver-market-risks-whiplash-/

Vancouver Sun: http://vancouversun.com/news/local-news/early-signs-that-vancouver-housing-market-correction-may-be-over-royal-lepage