Just Released: 2017 Royal LePage Canadian Recreational Housing Report
To: Royal LePage Broker/Owners, Managers, Sales Representatives and Administrators
The 2017 Royal LePage Canadian Recreational Housing Report was released to media early this morning. The report compiles information from a cross-Canada survey of some of the company’s recreational property specialists.
Key highlights from the national release include:
- As of May 2017, the national aggregate price of a recreational property in Canada was $439,000
- The high-priced competitive environment seen in the Greater Toronto Area and Greater Vancouver residential real estate markets have seeped into the provinces’ recreational property segment, putting upward pressure on pricing and sales activity levels.
- Of the regions studied in the report, the most expensive properties were found to be in Western Canada, with Alberta topping the list with a provincial aggregate price of $816,700. Prices in the region were driven primarily by the province’s limited availability of lakefront property in close proximity to major city centres, and an increase in demand stemming from an uptick in the energy sector and consumer confidence.
- On the opposite side of the country, the least expensive recreational properties were found in New Brunswick, with a provincial aggregate price of $179,500.
- When asked to compare the number of U.S. recreational property buyers seen this year over last, nearly three-quarters (73 per cent) of respondents said that the number has remained the same. Yet, advisors in British Columbia, Quebec, Newfoundland and Labrador and Prince Edward Island reported seeing increases in U.S. interest.
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 recreational property markets in the following provinces: