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Pandemic-shift: spike in savings diverted into housing driving national median home prices up 8.6%, according to Royal LePage | Nachricht

Despite second wave worries, the median price of a home in Canada forecast to finish year 7.0% higher than year-end 2019

  • Delayed spring market extends through Q3 as pent up demand fuels prices and sales
  • 97% of regions surveyed post price appreciation in third quarter despite economic shock of COVID-19
  • Ontario and Quebec real estate markets dominate list of highest appreciating regions, with Windsor in the top spot at 17.0%

TORONTO, Oct. 14, 2020 /CNW/ – According to the Royal LePage House Price Survey and Market Survey Forecast released today, the aggregate1 price of a home in Canada increased 8.6 per cent year-over-year to $692,964 in the third quarter, as high demand and low inventory continued to fuel a seller’s market.

The Royal LePage National House Price Composite is compiled from proprietary property data in 64 of the nation’s largest real estate markets. When broken out by housing type, the median price of a standard two-storey home rose 10.0 per cent year-over-year to $819,906, while the median price of a bungalow increased 7.0 per cent to $570,701. The median price of a condominium increased 5.3 per cent year-over-year to $510,365. Price data, which includes both resale and new build, is provided by Royal LePage’s sister company RPS Real Property Solutions, a leading Canadian real estate valuation company.

“Typical consumption patterns have been disrupted in 2020 as the pandemic has driven the household savings rate to levels not seen in decades,” said Phil Soper, president and CEO of Royal LePage. “Most Canadians have sharply reduced spending on discretionary goods and services involving a great deal of human interaction, and with mortgage rates at record lows, many have refocused on housing investments, be it renovations to accommodate work-from-home needs, a recreational property or a new

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Romanza Interior Design elevates waterfront estate in Port Royal

Gravina, Smith, Matte & Arnold Marketing and PR, Special to Naples Daily News
Published 6:01 a.m. ET Oct. 10, 2020

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Inspired interiors from award-winning Romanza Interior Design will elevate a new London Bay Homes luxury custom home that showcases commanding views of Doubloon Bay in the prestigious Port Royal neighborhood.

Located at 4155 Cutlass Cove, the 6,569-square-foot estate is a London Bay Homes-led creative collaboration with Kukk Architecture & Design, Romanza Interior Design and Architectural Land Design. The home features a seamless connection between indoor and outdoor living spaces and an interior design ideal for both easy everyday living and gracious entertaining.

“Wide expanses of glass with fully retracting pocket doors showcase the cove from the great room, master suite, club room and VIP suite,” said Romanza’s Senior Design Director Jennifer Stevens. “We’ve created a clean, comfortable interior design that complements, not competes, with the home’s amazing views.”

A keyless Oikos door pivots open, greeting guests to a grand home that stylishly blends state-of-the-art automation, elegant finishes, built-ins and custom treatments in a soft contemporary design.

“We’ve introduced lots of texture throughout the interior finishes, from shiny porcelains to warm wood tones, to fabrics and wallcoverings,” said Stevens.

The rich palette takes its cues from the water and natural preserve views, employing warm neutrals and soft whites, accented with caramel, charcoal, chocolate and blues. To unite main living areas, Stevens selected a 40″ x 40” tile in a natural ivory sea-worn stone finish with subtle vein variations. A custom ceiling of wood and upholstered leather graces the great room.

Kitchen appliances are integrated within quartz-topped white dove cabinets with lit glass displays. The Soho Kitchen and

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