(Source: Canadian Press)

Canada’s real estate market didn’t fall as hard or fast as in the U.S., but some spots did suffer steep losses and a recovery will be slow as buyers worry about another potential economic dip, a new report suggests.

Total losses in value across Canada will average between 10 to 20 per cent compared to the highs of two years ago, according to the study by PricewaterhouseCoopers and the Urban Land Institute.

But some areas saw a much deeper drop. The report released Wednesday predicts a slow recovery to begin by the end of next year.

“For 2010, we are rating only fair investment outlooks for most property types and predict generally weak conditions for development,” said Chris Potter of PricewaterhouseCoopers.

Read the full press release, here.

Developments featured in this article

More Like This

Facebook Chatter