{"id":4494,"date":"2017-01-11T11:11:59","date_gmt":"2017-01-11T19:11:59","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=4494"},"modified":"2017-01-20T13:38:45","modified_gmt":"2017-01-20T21:38:45","slug":"limited-housing-supply-in-vancouver-toronto-will-help-buoy-house-price-inflation","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2017\/01\/limited-housing-supply-in-vancouver-toronto-will-help-buoy-house-price-inflation\/","title":{"rendered":"Limited Housing Supply in Vancouver &#038; Toronto Will Help Buoy House Price Inflation"},"content":{"rendered":"<p style=\"text-align: justify;\">Limited housing supply in the key Canadian markets of Vancouver and Toronto will help maintain national house price inflation this year, even as recent government and regulatory curbs kick in to slow the growth rate, according to Oxford Economics.<\/p>\n<p style=\"text-align: justify;\">The global advisory firm, based in Oxford, England, predicts that national house price inflation will slow to around 6% in 2017 from 10% last year.<\/p>\n<p style=\"text-align: justify;\">\u201cOur forecast is based on a gradual deceleration in speculative and foreign buying activity alongside continued support to prices from non-speculative demand and ongoing supply constraints,\u201d the economic forecaster said in a report published this week.<\/p>\n<p style=\"text-align: justify;\">The greater Toronto and Vancouver markets have been key drivers of Canada\u2019s multi-year property boom, according to Oxford Economics. And despite the expected slowdown, the attraction of those cities as places to live and work, combined with limited residential real estate supply in those areas, \u201cwill support still healthy growth rates.\u201d<\/p>\n<p style=\"text-align: justify;\">The report says several measures indicate that foreign buyers and speculative demand were behind the 50% surge in house prices in the greater Vancouver area and 35% rise in greater Toronto since 2014.<\/p>\n<p style=\"text-align: justify;\">For example, the unit sales to population ratio in the Vancouver area fell to a two-and-a-half year low after a 15 per cent tax was levied on foreign buyers in August. In Toronto, where there is no equivalent tax, the ratio remains well above its long-term average.<\/p>\n<p style=\"text-align: justify;\">Oxford Economics predicts that the forces now at play in Canada\u2019s real estate market will result in curbed sales to foreign buyers and reduced expectation of future home price gains, which will temper speculative demand.<\/p>\n<p style=\"text-align: justify;\">\u201cOther factors that will dampen demand include higher mortgage rates, high household indebtedness and more restrictive bank lending,\u201d the report said.<\/p>\n<p><a href=\"http:\/\/business.financialpost.com\/personal-finance\/mortgages-real-estate\/limited-housing-supply-in-vancouver-and-toronto-will-help-buoy-house-price-inflation-report\" target=\"_blank\">Limited Housing Supply in Vancouver &amp; Toronto Will Help Buoy House Price Inflation<\/a> by Barbara Shecter | Financial Post<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Limited housing supply in the key Canadian markets of Vancouver and Toronto will help maintain national house price inflation this year, even as recent government and regulatory curbs kick in &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2017\/01\/limited-housing-supply-in-vancouver-toronto-will-help-buoy-house-price-inflation\/\">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-4494","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Limited Housing Supply in Vancouver &amp; Toronto Will Help Buoy House Price Inflation &#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\/2017\/01\/limited-housing-supply-in-vancouver-toronto-will-help-buoy-house-price-inflation\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Limited Housing Supply in Vancouver &amp; 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