Festival condos phase 4. Canadian house prices will rise by 6% next year. Persistently low interest rates, first-time home purchase incentives and the growing integration of new immigrants are driving up the Canadian real estate market.Please Visit: Festival condos phase 4 to Get Your VVIP Registration Today!
When everyone is optimistic about the Canadian real estate market, some authoritative organizations have also given an objective and rational analysis. Recently, Huffpost reported that Capital Economics, an economic research and consulting firm, said in a report on Friday that the momentum of house price growth in Canada was “growing”.
If current trends are maintained, Canadian house prices will grow at an annual rate of 6% by March next year, according to Capital Macro.
Stephen Brown, a senior Canadian economist and author of the report, wrote: “the increase in the ratio of sales to new listings indicates that house prices will rise sharply.”
The ratio of houses sold to newly listed houses is measured by the ratio of the number of houses sold to the number of newly listed houses. The higher the price-to-price ratio, the more nervous the market, so the greater the expected price increase.
Although there are differences between Canadian markets, an overall sales-to-link ratio of more than 60% indicates that prices will rise in the future. In October, the national rate in Canada was 63.7 per cent, well above the long-term average of 54 per cent, according to the Canadian Real Estate Association (CREA).
Brown attributed the increase in housing demand to a combination of lower central bank interest rates and Canadian interest rate cuts.
The maximum interest rate on five-year fixed-rate mortgages at major banks has fallen to about 2.7 per cent from 3.5 per cent at the beginning of the year, according to RateSpy.com. Lower interest rates mean that Canadian buyers can pay about 10% more than they did a year ago.