Monthly Archives: December 2017

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Just Released: 2018 Royal LePage Market Survey Forecast – Continued Growth to Continue in 2018

Key highlights from the national release include:

• The Royal LePage House Price Composite, which measures home prices in 53 key Canadian cities, is expected to increase 4.9 percent by the end of 2018 to $661,919, in the face of a series of measures aimed at affordability challenges in Greater Vancouver and the Greater Toronto Area.
• Royal LePage anticipates that the incoming OSFI stress test will slow the housing market, particularly in the first half of 2018, as buyers adjust both their expectations and finances. With a large number of existing homeowners potentially failing the test when refinancing next year, a temporary reduction in consumer confidence may further stagnate price growth as potential buyers and sellers take a ‘wait and see’ approach.
• Seventy-six per cent of Royal LePage agents who offer rental services in the Greater Toronto Area saw a year-over-year increase in multiple offers and 68 per cent of those respondents cited affordability as a barrier to homeownership as the number one factor driving rental demand. In Greater Vancouver, 59 per cent of respondents servicing the Vancouver area saw a year-over-year increase in multiple offers for rentals. As a result, the pipeline of potential homebuyers is growing and this growth trend is expected to continue through 2018.

 

Read more from this link:  https://www.royallepage.ca/en/realestate/news/new-osfi-stress-test-set-to-limit-national-home-price-appreciation-in-2018/#.WjEflrT81R0

Contact us today for all your Real Estate needs.  Kathy & Dave – “Strength in Teamwork”.  See our blog:  www.kathyanddave.ca

If you’re interested in learning more about the current housing market in the Niagara region, we would be happy to have a chat with you and answer any questions you may have. Come in for a visit or give us a call! It would be our pleasure to show you how selling your home in the current market could increase your financial gain.

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Baby boomers in leading markets express sustained confidence in real estate!

A new report released by Mustel Group and Sotheby’s International Realty Canada revealed that confidence in the country’s real estate market remained considerably robust among baby boomers in leading markets such as Vancouver, Toronto, Calgary, and Montreal.

Baby Boomers by definition are individuals who were born during the timeframe of 1946 – 1964.  This group is currently the largest population group.

Read more from the Real Estate Professional Magazine:  https://www.repmag.ca/news/baby-boomers-in-leading-markets-express-sustained-confidence-in-real-estate-235148.aspx

The joint study titled “2017 Generational Trends Report: Canada’s Intergenerational Wealth Transfer & Next Generation Home Buyers” found that 61% of urban baby boomers indicated a belief that their real estate investments have outperformed their financial investments.

Contact us today.  Kathy & Dave – “Strength in Teamwork”.  See our blog:  www.kathyanddave.ca

If you’re interested in learning more about the current housing market in the Niagara region, we would be happy to have a chat with you and answer any questions you may have. Come in for a visit or give us a call! It would be our pleasure to show you how selling your home in the current market could increase your financial gain.

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