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‘We haven’t seen anything like this before’: pandemic boosts Canadian real estate

Money Real Estate Coronavirus
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coronavirus pandemic is part of the reason.“Real estate is one of those sectors that is actually seeing what I call a ‘COVID catalyst,’ maybe the three P’s of the pandemic: puppies, pelaton and property.”Soper says home prices are up about 10 per cent this year — double the long-term average.A new report from the real estate company shows “cottage country,” known as the recreational market, is especially hot.To the end of September, year-over-year home prices in recreational property markets soared, driven by “Canadians’ ability to work remotely. ” The aggregate price of a single-family home in the recreational market rose 11.5 per cent to $453,046.

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