While the Canadian housing market has largely levelled off, TD Economists are predicting that Manitoba hasn’t quit yet stating: “Most markets will see low to mid single-digit gains, but Saskatchewan and Manitoba will continue to post double-digit gains in the near term followed by a significant cooling in 2009, “with the risk of a mild price correction in the major cities that have recently experienced extraordinary price growth.”.

Money-Sense business magazine ranked Winnipeg as Canada’s 7th best place to live in its’ May 2008 issue. Factors which affected its’ decision were primarily economical including the cost of housing, employment rates, income levels and market growth.

Read it all here

With 2007 over, we’d like to express our thanks to our clients and business partners for their support over the past year. We appreciate your business and the professional trust you have invested in us. Our business is our clients, and we continue to pursue ways in which we can be even more responsive to your business needs.

As the new year has come, all indicators are pointing to continued market strength in the real estate sector. But whatever the year brings we will continue to provide the market assurance and responsive service our clients have come to expect from us.

To all our clients and business partners- Happy New Year, and continued prosperity in 2008!

The Canada Building at 352 Donald St. and The University of Winnipeg Community Renewal Corporation will be the first two recipients of funds from the recently established Housing Development Rehabilitation Fund.

North Portage Development Corporation is to receive $500,000 to aid in the transition of four vacant floors in the Canada Building into 60 lower income rental suites. Funds directed to the University of Winnipeg Community Renewal Corporation will be used to help build a $9M, 178 unit housing complex at the corner of Portage Ave. and Langside St.

Get the full stroy at CBC Online.

For the first time in Winnipeg’s history, sales of existing homes topped $2 billion annually. This achievement was spurred by record-sales for October, besting last years record with $210.4 million in sales. This was a 30.4% increase in sales of existing homes from the record last October. Market strength is also evident in the new housing starts which are up 20.2% from last October.

Get the Full Story at The Winnipeg Free Press

Royal LePage has released its report on national housing price averages in the first quarter of 2007. Growth in Winnipeg’s housing prices exceeded industry expectation tallying above the provincial average in growth for 2006.

Averages for bungalow styled homes were up from the first quarter of 2006 by 11.8% to an average of $191,375. Two storey homes saw even larger rates of growth with a 12.5% increase from the first quarter of last year to an average selling price of $220,714. Condominium units were up as well by 12% to a city-wide average of $109,250.

And finally, the first quarter market report for Winnipeg.

“The housing market in Winnipeg got off to a strong start in the first quarter of 2007, as average house prices rose by double digits in most
neighbourhoods. Manitoba’s provincial economy continued to thrive in the first quarter, supported by projects such as the construction of the Manitoba Hydro Building and the Red River floodway, as well as sustained growth in the residential construction sector. Approximately half of all listings sold for over list price, resulting in some purchasers becoming frustrated by the high level of competition in the market.”

A Winnipeg home-builder has (fittingly) won the CMHC energy efficienct home design contest. Manitoba (and Winnipeg in particular) is after all one of the chilliest inhabited regions of Canada and we all know the value of saving a little fossil fuel.

The savings of energy efficiency goes well beyond penny’s pinched however, as almost half of all green-house gas emissions in Canada are caused by energy consumption and waste in homes. Energy efficient homes help reduce these emissions and can help save the environment.

The design known as ‘Urban Ecology’ by the Winnipeg Housing Rehabilitation Corporation won the CMHC sponsored contest, placing first in a pool of 12 builders nation-wide. To the winner goes $50,000, to benefit the building of the prototype home - and technical / promotional support.

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The CMHC is predicting a down-turn in new home starts for Manitoba in 2007. In their latest market report, the prediction of 4,900 new home starts is made- down from the actual number of 5,028 in 2006. While new home construction appears to be dropping slightly, home renovations are on the up-swing in 2007. A larger quantity of home renovation permits have been issued in the first part of 2007 than in previous years. Additionally, the value of the home improvements being performed has increased 44% from 2005 up to $77.3 million in January.

Get the full story at the Winnipeg Free Press.

Housing resale prices are up accross Canada by 11.1%. The data released by the CREA indicates that Manitoba came in 4th place with a 12.2% increase in resale values. Alberta, the Northwest Territories, and British Columbia led all provinces and territories in percentage increases. The average home resale price in Manitoba is up to $150,229, up from $133,854 in 2005.

Get the Full Story from CBC.