{"id":1736,"date":"2013-09-18T17:02:00","date_gmt":"2013-09-18T17:02:00","guid":{"rendered":"http:\/\/rf.podcastfixit.com\/index.php\/2013\/09\/18\/laval-housing-continues-to-soar\/"},"modified":"2015-06-01T19:41:37","modified_gmt":"2015-06-01T19:41:37","slug":"laval-housing-continues-to-soar","status":"publish","type":"post","link":"https:\/\/newscoverage.org\/index.php\/2013\/09\/18\/laval-housing-continues-to-soar\/","title":{"rendered":"Laval housing continues to soar"},"content":{"rendered":"

Remains homebuyers’ favourite destination <\/i><\/b>
\n
<\/b>
\nBy Robert Frank<\/b>
\nwww.thesuburban.com<\/a><\/p>\n

Laval residential property prices led the way again in August, notching an annual increase of 5.3 per cent\u2014more than double the average 2.4 percent rise for homes in the Montreal metropolitan area.<\/p>\n

The only region to come close to matching Laval’s white-hot real estate market was the South Shore, which posted a 4.9 percent increase over last year.<\/p>\n

It’s a seller’s market in Laval, the Greater Montreal Real Estate Board (GMREB) declared last week, reporting that prices jumped despite a massive increase of 51 per cent in the number of condominium listings available here, together with an overall easing in condominium market conditions throughout the Montreal metropolitan area.<\/p>\n

\n<\/div>\n
\nIn contrast, residents continue to flee Montreal, the perennial sick-man of the metropolitan area’s real estate markets, and the only one to show a drop in prices, falling 0.3 percent from last year.<\/p>\n
\n
\u201cAugust 2013 was the first month when we could compare results between two periods that were affected by the tightening of mortgage insurance rules implemented in July 2012,\u201d GMREB vice-chairwoman Diane M\u00e9nard said in a statement.<\/p>\n

That was when federal regulators trimmed the maximum duration of a mortgage from 30 years to 25 years.<\/p>\n

\u201cThat had a significant impact on the real estate market,\u201d M\u00e9nard observed.<\/p>\n

The government tightened up on its mortgage rules because of fears that the lowest interest rates in recorded history could be fueling a bubble in property prices.<\/p>\n

Statistics Canada reported that Canadians’ mortgage borrowing\u2014which rose $18 billion during the second quarter of 2013\u2014now totals $1.1 trillion dollars. <\/p><\/div>\n<\/div>\n

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Remains homebuyers’ favourite destination By Robert Frank www.thesuburban.com Laval residential property prices led the way again in August, notching an annual increase of 5.3 per cent\u2014more than double the average 2.4 percent rise for homes in the Montreal metropolitan area. The only region to come close to matching Laval’s white-hot real estate market was the<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1736","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nLaval housing continues to soar - Newscoverage<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newscoverage.org\/index.php\/2013\/09\/18\/laval-housing-continues-to-soar\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Laval housing continues to soar - Newscoverage\" \/>\n<meta property=\"og:description\" content=\"Remains homebuyers’ favourite destination By Robert Frank www.thesuburban.com Laval residential property prices led the way again in August, notching an annual increase of 5.3 per cent\u2014more than double the average 2.4 percent rise for homes in the Montreal metropolitan area. 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