Property sales and prices rising in Canada but experts warn that unemployment could d

[Nicholas Wallwork]

Property sales in some parts of Canada are increasing despite claims that any recovery in the country’s real estate market is some time away and likely to be slow when it does happen.

Official figures just published show that sales in Toronto and Ottawa are soaring. Both cities saw record housing resales in June, according to the data from the Toronto Real Estate Board.

Real estate sales in the Greater Toronto Area rose some 27% compared with a year ago and in Ottawa they jumped 12.5%, both record figures for sales in the month of June since figures began to be recorded in the 1960s.

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