Real-estate industries report 8.1% revenue increase in 2006
- Real-estate agents, brokers, appraisers and other real-estate industries reported total operating revenues of $10.6 billion for 2006, an 8.1 per cent increase from 2005.
Statistics Canada says high demand for real estate has boosted both sales and prices despite a slight increase in mortgage rates.
The agency's New Housing Price Index grew 9.7 per cent in 2006, close to five times the rate of inflation.
With a 37 per cent increase in operating revenues, Alberta's real-estate market continued to lead national growth.
Manitoba also recorded double-digit annual growth, at 19 per cent.
The offices of agents and brokers generated 87 per cent of the country's total real-estate revenue.
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