Langstaff Gateway Condos location. There is still no shortage of Canadian real estate for sale. Housing sales across the country continued to decline in November, down 12.57% from the same period last year, the third consecutive month of decline, while average house prices across the country fell 2.9% from a year ago.Please Visit: Langstaff Gateway Condos location to Get Your VVIP Registration Today!
Home sales in Canada are expected to fall by double digits this year, or 11.2%, the lowest level in five years. At the end of this year, the national average house price was $488, 000, down 4.2% from the same period last year. In 2019, home sales in Canada will fall further, estimated to fall by about 0.5%. The situation in Canada today is completely different from that in the United States.
The collapse of the housing market in the United States was triggered by the crisis, and now Canada’s financial system is stable, not to mention that the federal and provincial governments have taken measures to prevent the crisis. The most effective federal measure is the mortgage stress test. The killer mace of the provincial government is to levy a transfer tax on overseas buyers. According to statistics, 2/3 of overseas investors have been evacuated from BC province, which was the first to introduce overseas buyers.
According to the report, sales of uncompleted flats in the Greater Vancouver area and the Fraser Valley, especially in downtown Vancouver, fell sharply in June 2018 in the low Continental Plain (low Continental Plain House Lower Mainland).
) the absorption rate of newly sold pre-sale units is only 50%, compared with 94% in January 2018.
In fact, if you look at the November 2018 figures, you will find it even more frightening. The absorption rate of uncompleted flats is only 38%.
From the perspective of the single month of 2018, the absorption rate of uncompleted flats is also related to the number of uncompleted flats on the market. In January this year, the number of uncompleted flats on the market is the lowest, and the absorption rate is also the highest. In addition, the absorption rates in February, May and July are also good. But the results in other months are far from satisfactory.