Pre construction condos markham . The number of houses sold in Canada will hit a record high. Canadian house prices are expected to rise by 16.5% in 2021.
Canadian property prices rose 25 per cent in February, trading rose 39.2 per cent, and the property market is expected to perform strongly in 2021, with average property prices rising 16.5 per cent, and trading will hit a record high, but property trading will be quiet in 2022.
Average national property prices rose 25 per cent year-on-year to 678091 yuan in February, while turnover rose 39.2 per cent year-on-year, 6.6 per cent from January, according to the Canadian Real Estate Chamber of Commerce.
The Real Estate Association also predicts that the national average property price will rise by 16.5% to 665000 yuan in 2021 and a further 2.16% in 2022.
The Chamber of Commerce also expects that the total volume of property transactions in 2021 will be close to 702000, an increase of 27.34% compared with 5.51262 billion in 2020, an all-time high.
But the real estate association also predicts that the number of property transactions across the country will fall back to 614000 in 2022, down 12.54 per cent from the 2021 forecast.
For fears of a housing bubble, experts hope that the Bank of Canada does not cool the housing market by raising interest rates like other central banks. It can be considered through tax measures, or like the Bank of New Zealand to tighten real estate investment lending and other methods.
Starting in May, most home buyers in New Zealand will be required to provide a 20% down payment, while property investors will need a 40% down payment.
However, senior government sources believe that under the current economic pressure, no crackdown can be carried out. After all, data show that real estate accounted for 17 per cent of GDP in the fourth quarter of last year, employment in property-related industries was 5.4 per cent higher than before the outbreak, and employment in the construction sector was 3.4 per cent higher than before the outbreak.