Home prices are increasing in Canada91裸聊视频檚 cottage country as more buyers look to move there full-time, according to a report released Monday by Royal LePage.

Prices of single-family recreational homes rose 11.5 per cent to an aggregate of $453,046 in the first nine months of the year, the real estate brokerage said.

The data from Royal LePage comes amid an overall uptick in home prices this year, after COVID-19 lockdowns stymied the spring buying season. A rush of demand and a limited supply as the economy reopened this summer and fall meant that home prices were up 15.2 per cent last month in Canada compared to a year ago, according to the Canadian Real Estate Association.

Royal LePage chief executive Phil Soper says the number of cottages, cabins, chalets and farmhouses on the market have also dwindled amid the increased demand, at least through September.

91裸聊视频淚nventory levels are the lowest I91裸聊视频檝e seen in 15 years,91裸聊视频� said Heather FitzGerald, a Royal LePage agent in Moncton, NB, in the report. While local buyers have moved away from cities and closer to nature, FitzGerald also noted an increase in buyers from Ontario and Quebec. Corey Huskilson, another Royal LePage agent quoted in the report and based in Halifax, said buyers from outside of the Maritimes, 91裸聊视频渨ho expect to be working remotely for the foreseeable future, are flocking to the area.91裸聊视频�

Real estate agents in 54 per cent of regions told the brokerage that there was a significant increase in buyers looking to work remotely at a cottage as a primary residence.

Eric Leger, a Laurentians-based agent, said in the report that Quebec91裸聊视频檚 lockdown periods 91裸聊视频渟parked an urgent desire for many city dwellers, in need of more living space, to relocate to the suburbs and cottage country.91裸聊视频�

Agents in other provinces noted similar trends, with one agent noting that Alberta-based buyers are competing with people across the country for properties in Canmore.

91裸聊视频淗ighway developments have reduced the drive from Saskatoon to 1.5 hours, which makes working remotely more possible for those who still have to go into the office a few days a week,91裸聊视频� said broker Lou Doderai in the report.

The report says retirees have also bid up cottage prices, with agents in 68 per cent of regions saying more retirees are buying cottages this year compared to last year.

91裸聊视频淩etiring baby boomers have been putting upward pressure on prices and reducing inventory for the last few years. Retirees are now finding themselves competing against remote workers,91裸聊视频� said Bob Clarke, an agent in Ontario91裸聊视频檚 Muskoka region, in the report.

91裸聊视频淭he most common question used to be 91裸聊视频榠s the property West-facing?91裸聊视频� Now my clients91裸聊视频� biggest concern is internet quality.91裸聊视频�

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Anita Balakrishnan, The Canadian Press

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