A conservative forecast by CMHC in October predicted Montreal real estate prices would continue to rise at a healthy rate of 4% annually. If Montreal homes catch the attention of speculators and foreign investors then that growth rate could quickly hit 8%.
Today the price of oil is around $50 per barrel and Scotiabank recently forecast it would remain relatively unchanged into 2019. Employment in Calgary has stabilized and the city is expected to see population growth in 2018. For the foreseeable future, the Calgary real estate market is expected to be more balanced than before but there are a couple of key risks in this market.
At the end of November, Vancouver city council voted to adopt a new 10 year housing strategy. Honestly, what took so long? Vancouver real estate has been too expensive since 2010, and started being referred to in the media as a crisis in 2015.
There is no such thing as a low risk investment with consistently high returns. If there were such an investment, then everyone would buy, pushing up prices until the investment returns were equivalent to other low risk investments. This may have already happened in Canada, but perhaps real estate is different.
Toronto real estate price news.
