House prices in Hamilton are continuing to rise as buyers seek affordable alternatives to the GTA.
According to the latest survey from Royal LePage, the aggregate price of a home in Hamilton increased to more than 419-thousand dollars in the third quarter.
That’s a 10.3 per cent increase compared to the same time last year.
The media price of a bungalow in Hamilton jumped 12.4 per cent to 385-thousand dollars.
But the median price of a condominium dropped 6.6 per cent to 232-thousand.
Officials point to low interest rates and more affordable housing options compared to other cities, including the Greater Toronto Area.
Nationally, Canada’s residential real estate market posted a 12 per cent year-over-year aggregate increase to 545-thousand dollars.