Hamilton experiences significant home price increases in third quarter
HAMILTON, ON , Oct. 14, 2015 /CNW/ - The Royal LePage House Price Survey [1] released today showed notable year-over-year median price increases for homes in the two-storey and bungalow categories in Hamilton . In the third quarter of 2015, the aggregate [2] price of a home in the city increased 8.4 per cent to $395,404 .
Broken out by housing type, the median price of a two-storey home increased 8.7 per cent year-over-year to $429,120 , while bungalows rose 9.0 per cent to $343,088 . In contrast, condominium prices weakened on a year-over-year basis, dropping 4.4 per cent to $233,846 .
"Properties in the downtown core and around the University are experiencing sales increases as the result of greater interest from investors outside of Hamilton capitalizing on the opportunities in the market," said Joe Ferrante , broker of record, Royal LePage State Realty. " Hamilton and, by extension, its housing market continue to make economic strides and are benefiting from improved transportation infrastructure and new investment in manufacturing in the region."
Read the full article
here.