Canada’s housing market was remarkably strong in the fourth quarter, with most markets experiencing increases in average prices, Royal LePage Real Estate Services said today.

The highest average price appreciation occurred in detached bungalows, which rose to $269,810, up 9.1% from a year earlier.

The average price for standard two-storey properties rose to $327,269, up 7%, while the average price for a condominium unit rose to $190,123, also up 7% from the fourth quarter of 2004.

Homeowners in the energy-producing West saw the value of their properties appreciate at a much higher rate than elsewhere in Canada, Royal LePage said.

Major markets in Alberta, British Columbia and Manitoba experienced the highest price increases, with double-digit gains seen across all housing categories.

Victoria led the country in price appreciation for the fourth consecutive quarter with prices in its relatively smaller condominium market rising a dramatic 30% over the same period in 2004.

Calgary and Edmonton had the tightest inventory supplies as rising demand depleted active listings in these markets.