Soaring Prices for New Homes in Winnipeg

The price of a new house in the City of Winnipeg continues to surge, up 5.1% in August this year compared to the same month in 2012.

The increase reported today by Statistics Canada is nearly times the national growth in price of 1.8% for year-over-year prices.

It is part of a long-standing trend that sees Winnipeggers shopping for newly constructed homes paying more and more.

Going back to 2007, a new house in Winnipeg has shot up in price at the third highest level across Canada.  Only shoppers in Regina and St. John’s are facing a higher percentage increase.

At the other end of the spectrum, a new house in Edmonton, Vancouver or Victoria now costs less compared to what a buyer would have paid six years ago.

– Garth Hilderman

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