Leftbank condos price list. There are signs of cooling in the Canadian real estate market. Property observers say higher interest rates have begun to have a “cooling effect” on Canada’s property market, but some economists warn that the Bank of Canada cannot rely too heavily on rate hikes or risk a market collapse.Please Visit: Leftbank condos price list to Get Your VVIP Registration Today!
Central banks around the world have signalled plans to raise interest rates by 2022 to curb global inflation, and the Bank of Canada earlier this month expected to raise a series of key overnight interest rates.
In its latest interest rate forecast on Monday, the bank of Montreal said it expected the bank of Canada to raise interest rates by 50 basis points to 1 per cent at its next meeting, followed by a further 50 basis points.
CIBC said in its latest forecast on Monday that interest rates could reach 1.5% by the end of the year and 2.25% by September 2023.
Real estate agent NasmaAli Ali has noticed a marked slowdown in housing demand in most areas over the past few weeks, and she thinks prices in the suburbs and surrounding towns are likely to follow suit within two years. Ali, chief executive of brokerage One Group, said there were more than 100 visits in January. I have only seen the house five or six times in the last four days.
Experts say record low interest rates during the COVID-19 pandemic are one of the reasons for the rise in house prices, which will have a “cooling effect” after the outbreak. But interest rates are not enough to cool Canada’s hottest real estate market.
The representative of the Canadian Real Estate Association (CREA) believes that Canada has absorbed a large number of immigrants and a huge population growth, resulting in housing demand exceeding inventory, which has also led to a rise in house prices. House prices will not fall until the government’s goal of rapid housing construction is achieved.
In addition, people believe that housing can hold value is also the reason why the housing market is hot. HilliardMacBeth, a portfolio manager, predicted a Canadian real estate bubble in his 15-year book, and it is only in its early days. He said that since the beginning of the COVID-19 pandemic, there has been a general belief that housing can preserve its value without being affected by inflation.