Ontario cottage prices to see big spike but are nowhere near the highest in Canada

Cottage sales in Ontario are on the verge of a rebound, say experts, with prices due to increase by significantly more than the same property type in any other province this year.

Per Royal LePage's Spring Recreational Property Report, released Wednesday, renewed interest and buyer confidence is expected to lead to a price hike of approximately 8 per cent in this sector of the market in Ontario this year. Chart showing anticipated changes in average vacation home prices across Canada this year, courtesy of Royal LePage.

"But inflation reared its ugly head, interest rates soared and the economic downturn that followed pushed cottage, cabin and chalet prices off those pandemic peaks — yet the fundamental demand for recreational living has not abated. We believe that this market segment will see a resurgence of activity in 2024."Interestingly enough, this prediction for Ontario vs.

Source: Real Estate Daily Report (realestatedailyreport.net)

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