All tagged Property Prices
Prices in Metro Calgary are continuing their downward path but are still fairly expensive relative to local household incomes. At this point, price declines appear to be part of a long-term trend in Calgary while the property market seeks to find a its equilibrium price level.
North Vancouver House and Condo prices have dipped since the beginning of the year, but Sale Prices across all property types has increased since 2016.
Based on home price gains, these Lower Mainland neighbourhoods have appreciated in value more than others. This presents an opportunity for locals to move to new neighbourhoods that would have previously been beyond their reach.
The state of the market has changed a lot since our last forecast in March. Here’s an updated review of what the leading BC house price forecasts to the end of 2019.
An examination of the factors at play in the Vancouver Real Estate market reveals a definitive strengthening in the factors influencing the market downward.
Prices could continue to rise but the risk of a correction has risen significantly. There is still a critical supply issue so, regardless of home prices, many more homes need to be built in Vancouver.
Royal Bank and the Canadian Real Estate Association (CREA) have issued house price predictions conflict with each other. CREA anticipates 2018 will see a bigger drop than they had predicted in their December 2017 forecast, while RBC raised its forecast by 0.5% for 2018 but expects the tide will turn in 2019.
Balanced and honest insights into how to read and interpret real estate news, so you can cut through the smoke and mirrors.