Cottage Prices to Increase Across Canada With Ontario’s 8 Percent Rise Leading the Pack: Royal LePage

Cottage prices are set to surge across Canada this year with value in Ontario climbing more than any other province, according to a new forecast from Royal LePage. An increase in single-family recreational home prices in 2024 will hit all provincial markets, with the level of price appreciation rising to 8 percent in Ontario, three percent above the average national increase of 5 percent, the report said. Price appreciation is the increase in the value of a property over a period of time. The increase, according to the report, can be attributed to the forecasted low inventory and high demand. While Ontario leads the pack at 8 percent, British Columbia, Atlantic Canada, and Alberta will also see significant increases at 5 percent, 4.5 percent, and 4 percent respectively....