Luxury housing sales surge forward

New records set in just over 60 per cent of markets in the first quarter

Mississauga, ON (May 16, 2012) - The Canadian appetite for all things luxury continues to fuel demand for high-end housing, with first quarter 2012 sales well ahead of 2011 figures for the same period in most markets across the country, according to a report released today by RE/MAX.

The Upper-End Report found that 81 per cent (13) of the 16 major Canadian centres examined - including Victoria, Edmonton, Calgary, Regina, Saskatoon, London-St. Thomas, Kitchener-Waterloo, Hamilton-Burlington, Greater Toronto, Ottawa, Quebec City, Greater Montreal, and Halifax-Dartmouth - posted an increase in homebuying activity, with the vast majority reporting double-digit appreciation. Records were set for upper-end sales in ten markets in Saskatchewan, Ontario, Quebec and Nova Scotia.