Property values are rising faster in the resale housing market than for new homes, a report by Scotia Economics said yesterday.
Over the last decade in Canada, the average cost of a new home grew by slightly more than 50 per cent, while the average price of an existing house rose by more than double, Scotia's Global Real Estate Trends report said.
The report comes at a time when new data from Statistics Canada and the Canada Mortgage and Housing Corp. have bolstered existing forecasts that the real-estate market is slowing.
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