Bravo festival condos vaughan. Canadian real estate may have peaked. National Bank of Canada, Canada’s sixth largest commercial bank, released data on the 12th, showing that the annual composite house price index rose 2% month-on-month, the second largest increase in its history since it began statistics in 1999.Please Visit: Bravo festival condos vaughan to Get Your VVIP Registration Today!
If you look at the index from a year earlier, the index is also rising sharply, reaching a year-on-year increase of 10.92%, a further increase from the 10% increase in June. Seven of the 11 major Canadian real estate markets covered by the index recorded increases in house prices in July. The index is mainly used to evaluate the changes in the sales price of second-hand houses in independent houses.
As for the accelerated rise in house prices in Canada, Paul Ashworth, chief North American economist at Capital Macro, commented: the accelerated rise in house prices reflects that the housing market frenzy is happening not only in Toronto and Vancouver, but also in other cities.
The Canadian real estate market has been effectively supported since the global financial crisis, one of the important reasons is the relatively low borrowing costs. However, there is a serious divergence in the Canadian real estate market, with prices in the crude oil province continuing to decline, while prices in places such as Toronto and Vancouver are rising.
It was reported that although house prices in Vancouver still hit record highs recently, sales fell 19% in July from a year earlier.
Paul Ashworth believes that the recent transaction-to-listing ratio released by the Canadian Real Estate Association shows that the madness of the country’s real estate market has “peaked”: overall, the madness of the real estate market may be nearing its peak. the decline in home sales over the past few months suggests that the pace of house price increases will begin to moderate later.