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Article: The land for your dream home can carry a big price tag
- Article from:
- Winnipeg Free Press
- Article date:
- December 10, 2006
- Author:
CopyrightCopyright F.P. Canadian Newspapers Limited Partnership Dec 10, 2006. Provided by ProQuest LLC. (Hide copyright information)
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face=+Bold; That lot will cost a lotface=-Bold;
By Sharon Adams
PEOPLE looking for a lot for their Winnipeg dream home can't be blamed if they go into sticker shock -- one riverside lot is advertised for $300,000, and prices over $100,000 are common.
Demand is outstripping supply with predictable results: For the second year running, prices for vacant land have increased by double digits.
"The average selling prices of single-family residential lots have increased on average by 13 per cent this year to date from 2005," says Patrick Hamilton, president of real estate services firm Cushman & Wakefield LePage. Selling prices increased by 19 per cent in 2005.
But the real value has ...