July 26, 2011
Bungalows Show Largest Price Increase
Did you know that detached bungalows showed the healthiest year over year price increases for all housing types at 6.1%, according to a new report by Royal LePage Real Estate Services? In close second place were condominiums, up 6%. The price of a standard two-storey home in the GTA increased 4.7% from the same time last year. Bungalows remain popular because of an aging demographic, but affordability has also made them the default choice for some buyers priced out of the two-storey market. Older bungalows are also a popular choice for some developers who are buying for land value to build new infill housing.
