Residential real estate prices across Canada jumped 25.1 per cent in the first quarter over the same period last year, Royal LePage said Tuesday in its House Price Survey.
In the Greater Montreal area, aggregate property prices jumped 18.5 per cent year-over-year to reach $571,400 in the first quarter, compared with $327,200 in Quebec City.
The first-quarter increases led Royal LePage to raise its 2022 forecast.
Urban sprawl has buoyed Quebec’s suburban and recreational markets, as buyers are now willing to own a more remote property than before to access the quality of life they seek.
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