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Looking to buy a cottage in Canada? Report forecasts increase in prices this year

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After seeing a slight drop in prices last year, a new Royal LePage report is forecasting prices in Canada's cottage and cabin market to increase this year.

The increase depends on where you live, with Atlantic Canada and B.C. seeing some of the biggest jumps. But it's Ontario that is anticipated to see the highest spike, with the median housing price to rise by about eight per cent.

As Sean Previl reports, the expected interest rate cuts, combined with higher demand and lower supply could mean Canadians wanting to buy that vacation home may need to do some extra budgeting.

For more info, please go to https://globalnews.ca/news/10370048/canada-cottage-cabin-price-forecast-2024/
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Category
U.S. & Canada
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global news
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