Canadian Real Estate Association boosts projections for 2014 home price gains

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Canada’s property market is set to perform better than previously thought, with average prices rising 3.8 percent during 2014 to $397,000. Prices are also expected to increase 1.1 percent on average in 2015, says the Canadian Real Estate Association (CREA) in an updated and extended market forecast. Sales volumes are also expected to grow.