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Can you afford a vacation home? Here’s what it takes across Canada – Global News

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One of the wildest real estate bidding wars Markham, Ont.-based real estate agent Dayle Carmody has seen recently involved a home listed at $499,000 that sold for $300,000 over asking after just a couple of days and some 25 offers later.

The home wasn’t in one of the Greater Toronto Area (GTA) suburbs that have attracted scores of urban buyers looking for more space and greenery amid the pandemic. It was in Hunstville, Ont. in the coveted Muskoka region, one of the province’s most popular vacation destinations.

READ MORE: What you can buy in housing markets across Canada for $500K, $1M and $1.5M

“Anything at that entry-level price point is getting multiple offers within a day,” says Carmody, who is a sales representative at Ferrow Real Estate.

But bidding wars are hardly unique to Ontario’s cottage country amid Canada’s pandemic-fuelled real estate boom. Whether you call it cottage, cabin, chalet or camp, if you’re hoping to snap up a vacation home this year, get ready for bare-knuckle competition.

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“From coast to coast, the line between primary residence and recreational property is blurring,” Phil Soper, president and CEO of Royal LePage said in a statement.


Click to play video: 'Money123: Owning a vacation home without breaking the bank'



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Money123: Owning a vacation home without breaking the bank


Money123: Owning a vacation home without breaking the bank – Aug 3, 2019

The result is a country-wide buying frenzy made worse by supply shortages that are often even more severe for recreational properties than they are in the overall real estate market, according to real estate agents. The trend began last summer and has continued to gain momentum, Soper said.

READ MORE: A better kind of timeshare? Why millennials are choosing co-ownership for vacation homes

Overall, Royal LePage expects the aggregate price of a home in Canada’s recreational markets to soar 15 per cent in 2021, to just over $500,000, the real estate company said in a forecast released Tuesday. That appreciation would come on top of an average price increase of 16 per cent in 2020, according to the report.

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Here’s what to expect across Canada in 2021:

Atlantic Canada


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Average price increase in 2021: 17 per cent.

Average price expected at the end of 2021: just under $227,000.

Along with Ontario, Atlantic Canada’s recreational market is poised to see the sharpest appreciation this year, with plenty of demand from out-of-province buyers from Ontario, Quebec and B.C., according to the report.

In Shediac, N.B., which claims to be the “lobster capital of the world,” sight-unseen home purchases are becoming “more prevalent,” says Heather FitzGerald at Royal LePage Atlantic in Moncton. Some of the out-of-town buyers are retirees returning home or “fulfilling the dream of a vacation home in the Maritimes,” while others are young professionals who can work remotely and have chosen to relocate to a waterfront cottage, he says.

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Forty per cent of surveyed real estate professionals representing buyers in the region said their clients are making four to seven offers on average before closing a sale, according to the report.

Quebec


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Average price increase: 15 per cent.

Average price expected at the end of 2021: just over $290,000.

In Quebec, Éric Léger,  a real estate broker at Royal LePage Humania sees a demographic clash between young buyers craving more space both indoors and outdoors, and older owners who are reluctant to sell because of concerns related to COVID-19, and a record housing supply crunch that makes it difficult for potential sellers to buy elsewhere.

“Eventually, the progress in the vaccination rollout should lead to increased [housing] inventory,” he says.

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Ontario


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Average price increase: 17 per cent.

Average price expected at the end of 2021: around $547,000.

In Ontario, Royal LePage sees average home prices in the recreational market climbing 17 per cent on top of a nearly 20 per cent increase in 2020.

At Ferrow Real Estate, Carmody says that while she is starting to detect bidding-war fatigue among some Ontario buyers looking to purchase at the edges of the GTA, in cottage country she expects multiple offers to continue to be the norm through the summer.

“There’s just so much demand,” she says. “Everybody’s trying to scoop up a cottage or recreational property.”

Prairies


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Average price increase: 9 per cent.

Average price expected at the end of 2021: just under $261,000.

While average home-price growth is expected to come in just shy of double-digit territory this year, the forecast increase comes after recreational property values soared by nearly 22 per cent in 2020, according to Royal LePage.

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While the region isn’t seeing an onslaught of buyers from out of province, local snowbirds are helping to drive up demand.

“I’ve had many clients trade their U.S. properties for waterfront cottages closer to home,” Rolf Hitzer of Royal LePage Top Producers Real Estate, says of properties in properties in Lac du Bonnet, near Winnipeg.

Alberta


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Average price increase: 6 per cent.

Average price expected at the end of 2021: just under $943,000.

Alberta is expected to see a — relatively speaking — tame average price increase of six per cent this year, according to the report. But the province already has Canada’s priciest recreational market with the aggregate price of a vacation home expected to come in just shy of $1 million by the end of 2021. The average is skewed by Canmore, a sought-after destination for its proximity to Banff National Park and luxury mountain properties.

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A growing segment of buyers comes from young and middle-aged Albertans wanting to relocate to the areas, says Brad Hawker of Royal LePage Rocky Mountain Realty.

British Columbia


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Average price increase in 2021: 13 per cent.

Average price expected at the end of 2021: just under $782,000.

Real estate agents in the province are expecting another torrid spring real estate markets ahead of another summer without the possibility of travel.

“Our biggest challenge right now is extremely low inventory and increased buyer demand,” says Francis Braam of Royal LePage Kelowna. “I expect we’ll see double-digit price gains in Central Okanagan this spring.”

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With grief lingering, Blue Jackets GM Waddell places focus on hockey in wake of Gaudreau’s death

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BUFFALO, N.Y. (AP) — Hearing the familiar sounds of clacking sticks and pucks banging off the boards and glass while watching Columbus Blue Jackets prospects from the stands of a cold rink on a warm late-summer afternoon was not enough to wash away the lingering residuals of grief for Don Waddell on Saturday.

That, the Blue Jackets’ general manager acknowledged, will take more time than anyone can guess — weeks, months, perhaps an entire season and beyond.

What mattered is how spending the weekend attending the Sabres Prospects Challenge represented a start to what Waddell called among the first steps in refocusing on hockey and the future in the aftermath of the deaths of Columbus star Johnny Gaudreau and his brother, Matthew, who were struck by a suspected drunken driver while riding bicycles on Aug 29.

“We got to play hockey,” Waddell said. “We’re not going to forget about Johnny and his family, the Gaudreau family.”

He then reflected on the speech Johnny Gaudreau’s wife, Meredith, made during the brothers’ funeral on Monday, by urging those in mourning to move forward as she will while focusing on raising their children.

“Everybody knows that Johnny wants them to play hockey,” Waddell said. “And everybody’s rallying around that.”

The resumption of hockey in Columbus began last week, when most Blue Jackets players returned to their facility to be together and lean on each other at the urging of Waddell and team captain Boone Jenner. And it will continue on Thursday, when the team opens training camp, exactly three weeks since the Gaudreaus were killed.

“Tragic. Senseless. But now we got to focus on trying to get our team ready to play hockey this year,” Waddell said. “We all mourn and heal differently, but I think as a team being together like that is going to be critical for them to get moving forward.”

Tragedy is no stranger to Waddell or the Blue Jackets.

Waddell was general manager of the then-Atlanta Thrashers in 2003 when Dany Heatley lost control of his car and struck a wall, with the crash killing passenger and teammate Dan Snyder. In 2021, Blue Jackets goalie Matiss Kivlenieks died during a July Fourth fireworks accident.

Waddell placed the emphasis on himself and coach Dean Evason — both newcomers to Columbus this offseason — to guide the team through what will be an emotional season.

“Now, do I think there’s going to be some dark days? I won’t be surprised,” Waddell said.

Reminders of the Gaudreaus’ deaths remain apparent, and reflected in Buffalo on Friday night. A moment of silence was held in tribute to the brothers before the opening faceoff of a game between the Blue Jackets and Sabres.

Afterward, Columbus prospect Gavin Brindley recalled the times he spent with Johnny Gaudreau in Columbus and as teammates representing the United States at the world hockey championships in the Czech Republic in May.

“He was one of the biggest mentors for me at the world championships,” Brindley said. “I couldn’t tell you how many times we hung out with Meredith, pictures on my phone. It’s just so hard to look back and see that kind of stuff.”

The NHL and NHL Players’ Association are providing the Blue Jackets help in the form of grief counseling, crowd security at vigils and addressing hockey issues, such as potentially altering the league’s salary cap rules to provide Columbus relief from having to reach the NHL minimum payroll because of the void left by Gaudreau’s contract.

“The Blue Jackets, I don’t think anybody’s focused from an organizational standpoint, from a hockey standpoint as to what comes next, because I think everybody’s still in shock,” NHL Commissioner Gary Bettman told The Associated Press last week. “I don’t think anybody’s focused right now other than on the grieving part, which is understandable.”

Much of the burden has fallen to Waddell, who has been in discussions with the NHL and the NHLPA and dealing with outreach programs with the Blue Jackets’ partner OhioHealth, while also overseeing preparations for training camp and gauging his prospects in Buffalo.

There’s also his roster to attend to, which he said has two openings at forward, one involving Justin Danforth, who may miss the start of the season because of a wrist injury. Waddell didn’t have to mention the second opening.

Tiring and emotional as it’s been, Waddell found comfort being in his element, a rink, and looking ahead to the start of training camp.

“The guys are in really good shape. We’ve done a lot of testing already and they’re eager to get going,” Waddell said. “We have a reason to play for. And we’ll make the best of it.”

The Blue Jackets later Sunday signed veteran winger James van Riemsdyk to a one-year contract worth $900,000.

“James van Riemsdyk has been a very consistent, productive player throughout his career,” Waddell said. “Bringing him to Columbus will not only provide depth to our group up front, but also valuable leadership and another veteran presence in our dressing room.”

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AP Hockey Writer Stephen Whyno in New York contributed to this report.

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PSG says defender Nuno Mendes target of racial abuse after a French league game

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PARIS (AP) — Paris Saint-Germain defender Nuno Mendes was the target of abusive and racist comments on social media after a French league game.

The club condemned the abuse and expressed its “full support” Sunday for the Portugal left back, who was targeted following PSG’s 3-1 win against Brest on Saturday.

Mendes, who is Black, shared on his Instagram account a racist message he received.

During the match, Mendes brought down Ludovic Ajorque in the box for a penalty that Romain Del Castillo converted to give Brest the lead.

“Paris Saint-Germain doesn’t tolerate racism, antisemitism or any other form of discrimination,” the club said. “The racial insults directed at Nuno Mendes are totally unacceptable … we are working with the relevant authorities and associations to ensure those responsible are held accountable for their actions.”

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Slovenia’s Tadej Pogacar wins Grand Prix Cycliste de Montreal

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MONTREAL – Tadej Pogacar was so dominant on Sunday, Canada’s Michael Woods called it a race for second.

Pogacar, a three-time Tour de France champion from Slovenia, pedalled to a resounding victory at the Grand Prix Cycliste de Montreal.

The UAE Team Emirates leader crossed the finish line 24 seconds ahead of Spain’s Pello Bilbao of Bahrain — Victorious to win the demanding 209.1-kilometre race on a sunny, 28 C day in Montreal. France’s Julian Alaphilippe of Soudal Quick-Step was third.

“He’s the greatest rider of all time, he’s a formidable opponent,” said Woods, who finished 45 seconds behind the leader in eighth. “If you’re not at your very, very best, then you can forget racing with him, and today was kind of representative of that.

“He’s at such a different level that if you follow him, it can be lights out.”

Pogacar slowed down before the last turn to celebrate with the crowd, high-five fans on Avenue du Parc and cruise past the finish line with his arms in the air after more than five hours on the bike.

The 25-year-old joined Belgium’s Greg Van Avermaet as the only multi-time winners in Montreal after claiming the race in 2022. He also redeemed a seventh-place finish at the Quebec City Grand Prix on Friday.

“I was disappointed, because I had such good legs that I didn’t do better than seventh,” Pogacar said. “To bounce back after seventh to victory here, it’s just an incredible feeling.”

It’s Pogacar’s latest win in a dominant year that includes victories at the Tour de France and Giro d’Italia.

Ottawa’s Woods (Israel Premier-Tech) tied a career-best in front of the home crowd in Montreal, but hoped for more after claiming a stage at the Spanish Vuelta two weeks ago.

“I wanted a better result,” the 37-year-old rider said. “My goal was a podium, but at the same time I’m happy with the performance. In bike racing, you can’t always get the result you want and I felt like I raced really well, I animated the race, I felt like I was up there.”

Pogacar completed the 17 climbs up and down Mount Royal near downtown in five hours 28 minutes 15 seconds.

He made his move with 23.3 kilometres to go, leaving the peloton in his dust as he pedalled into the lead — one he never relinquished.

Bilbao, Alaphilippe, Alex Aranburu (Movistar Team) and Bart Lemmen (Visma–Lease) chased in a group behind him, with Bilbao ultimately separating himself from the pack. But he never came close to catching Pogacar, who built a 35-second lead with one lap left to go.

“It was still a really hard race today, but the team was on point,” Pogacar said. “We did really how we planned, and the race situation was good for us. We make it hard in the last final laps, and they set me up for a (takeover) two laps to go, and it was all perfect.”

Ottawa’s Derek Gee, who placed ninth in this year’s Tour de France, finished 48th in Montreal, and called it a “hard day” in the heat.

“I think everyone knows when you see Tadej on the start line that it’s just going to be full gas,” Gee said.

Israel Premier-Tech teammate Hugo Houle of Sainte-Perpétue, Que., was 51st.

Houle said he heard Pogacar inform his teammates on the radio that he was ready to attack with two laps left in the race.

“I said then, well, clearly it’s over for me,” Houle said. “You see, cycling isn’t that complicated.”

Australia’s Michael Matthews won the Quebec City GP for a record third time on Friday, but did not finish in Montreal. The two races are the only North American events on the UCI World Tour.

Michael Leonard of Oakville, Ont., and Gil Gelders and Dries De Bondt of Belgium broke away from the peloton during the second lap. Leonard led the majority of the race before losing pace with 45 kilometres to go.

Only 89 of 169 riders from 24 teams — including the Canadian national team — completed the gruelling race that features 4,573 metres in total altitude.

Next up, the riders will head to the world championships in Zurich, Switzerland from Sept. 21 to 29.

Pogacar will try to join Eddy Merckx (1974) and Stephen Roche (1987) as the only men to win three major titles in a season — known as the Triple Crown.

“Today gave me a lot of confidence, motivation,” Pogacar said. “I think we are ready for world championships.”

This report by The Canadian Press was first published Sept. 15, 2024.



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