Small-town Canada trounces urban price growth

Moreover, the agency noted that the provinces with the fastest price growth were Saskatchewan, where prices more than doubled in the period (rising 132.6%), and Newfoundland, where prices simply doubled.

Residential properties in Canada's 33 major CMAs had a total market value of $2,729.2 billion in 2011, a 54.4% increase from 2006. However, the total value of residential properties in the regions outside the CMAs increased 60.9% over the same period.

The highest growth rates among CMAs were in Saskatoon, Regina and Edmonton, where values more than doubled. During the period, property values declined only in Windsor (-0.5%).

In terms of provincial price growth, Alberta was a close third, with a 97% rise over the census period. The slowest growth rates were in Prince Edward Island (40.6%) and Ontario (42.9%).

During the five-year period, the highest year-over-year growth rates were in Newfoundland and Labrador (15.0%), Manitoba (12.0%) and Ontario (9.9%), StatsCan said.

The data represent Statistics Canada's first release of estimates for residential property assessment values.

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