{"id":3727,"date":"2016-10-20T10:10:31","date_gmt":"2016-10-20T17:10:31","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=3727"},"modified":"2016-10-15T09:13:12","modified_gmt":"2016-10-15T16:13:12","slug":"canada-wide-forecast-what-investors-need-to-know","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2016\/10\/canada-wide-forecast-what-investors-need-to-know\/","title":{"rendered":"Canada-Wide Forecast : What Investors Need to Know"},"content":{"rendered":"<p style=\"text-align: justify;\">One of the country\u2019s largest brokerages has released a province-by-province forecast. What does the future hold for each housing market?<\/p>\n<p style=\"text-align: justify;\"><strong>British Columbia<\/strong><br \/>\nUncertainty is the adjective to use when describing Canada\u2019s western-most province, according to Royal LePage.<br \/>\n\u201cNew government taxation and regulations within the region have also introduced a great deal of uncertainty into the market, as purchasers have begun to take a wait-and-see approach, putting downward pressure on sales activity,\u201d Royal LePage said in its Q3 forecast. \u201cWhile this did not significantly impact year-over-year home prices during the third quarter, it could very well result in a more balanced market moving forward.\u201d<\/p>\n<p style=\"text-align: justify;\"><strong>Alberta<\/strong><br \/>\n\u201cThe majority of economic forecasters watching the province have predicted that the Alberta economy will contract by approximately two percentage points in 2016, making it one of the most significant downturns in the province\u2019s history,\u201d Royal LePage said. \u201cThe economic drop in the region has directly impacted housing prices in the province\u2019s key markets, however, not nearly to the degree many observers anticipated.\u201d<br \/>\nDespite this, Royal LePage suggests Alberta has already been through the worst of the market decline, and it could all be up from here.<\/p>\n<p style=\"text-align: justify;\"><strong>Saskatchewan<\/strong><br \/>\n\u201cEffects can be observed in the employment sector, as the province lost 6,500 jobs in September when compared to the same period in 2015. Employment insurance recipients are up, earnings are falling and payroll employment is down,\u201d the brokerage said. \u201cDespite the traditionally negative effects of a poor economy on the housing market, the region\u2019s home prices have remained relatively stable; aggregate house prices in Regina increased year-over-year by 0.6% to $332,540.\u201d<\/p>\n<p style=\"text-align: justify;\"><strong>Manitoba<\/strong><br \/>\nManitoba\u2019s economy is holding strong, according to the agency.<br \/>\n\u201cThis is favouring well with the housing marketing in Winnipeg, as the aggregate price of a home in the region increased 2.3% year-over-year to $291,426,\u201dRoyal LePage said. \u201cForecasting strong population increases for the coming years, the City of Winnipeg announced recently that it projects it will exceed the one-million resident mark by 2035 and that demand for housing will grow as a result.\u201d<\/p>\n<p style=\"text-align: justify;\"><strong>Ontario<\/strong><br \/>\nFollowing British Columbia\u2019s lead, Ontario is poised to continue to be one of the country\u2019s fastest growing economies.<br \/>\nAnd housing appreciation is the major trend on all industry payers\u2019 minds.<br \/>\n\u201cIn the Greater Toronto Area, house values continue to climb. Aggregate house prices in Toronto grew year-over-year by 12.1% to $714,002,\u201d according to the brokerage. \u201cHouse prices in surrounding region Kitchener\/Waterloo\/Cambridge are also appreciating, posting a year-over-year increase in aggregate house price of 9.1% to $371,474.<br \/>\n\u201cHamilton, which stands above the provincial average in retaining and attracting millennials, had year-over-year growth in its aggregate house price of 10.3% to $419,830. The aggregate house price in Ottawa saw moderate year-over-year growth of 3.6% to $411,654.\u201d<\/p>\n<p style=\"text-align: justify;\"><strong>Quebec<\/strong><br \/>\nExport volumes may be down, but the economy in La belle province remains steady.<br \/>\nIt\u2019s ahead of its economic targets, according to a number of reports, and its unemployment level is below the national average.<br \/>\n\u201cThese factors remained supportive of the residential housing sector in the third quarter, with the aggregate house price in the Greater Montreal Area increasing by 4.9% year-over-year to $352,798,\u201d the brokerage said.<\/p>\n<p style=\"text-align: justify;\"><strong>Atlantic Canada<\/strong><br \/>\nThe major concern out east is the possibility of a recession, as the flagging oil industry continues to take its hits.<br \/>\nAnd it\u2019s not just due to declining oil prices; with many of the area\u2019s working-age citizens relying on work in that field, fewer prospects mean more struggle.<br \/>\n\u201cAs a result, St. John\u2019s was the only city studied in the Royal LePage Composite to decline in Atlantic Canada, with the aggregate home price dropping -3.2% to $332,597 year-over-year,\u201d Royal LePage said. \u201cMeanwhile, Moncton and Halifax showed slight year-over-year increases in aggregate house prices of 1.5% to $182,529 and 0.8% to $308,017, respectively. Similarly, aggregate house prices in Charlottetown and Fredericton increased year-over-year by 2.3% to $224,219 and 2.9 per cent to $246,696, respectively.\u201d<\/p>\n<p><a href=\"http:\/\/www.canadianrealestatemagazine.ca\/news\/canadawide-forecast-what-investors-need-to-know-215494.aspx\" target=\"_blank\">Canada-Wide Forecast : What Investors Need to Know<\/a> by Justin da Rosa | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of the country\u2019s largest brokerages has released a province-by-province forecast. What does the future hold for each housing market? British Columbia Uncertainty is the adjective to use when describing &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2016\/10\/canada-wide-forecast-what-investors-need-to-know\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-3727","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Canada-Wide Forecast : What Investors Need to Know &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2016\/10\/canada-wide-forecast-what-investors-need-to-know\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Canada-Wide Forecast : What Investors Need to Know &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"One of the country\u2019s largest brokerages has released a province-by-province forecast. 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