{"id":6782,"date":"2017-08-28T15:15:33","date_gmt":"2017-08-28T22:15:33","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=6782"},"modified":"2017-08-25T13:49:00","modified_gmt":"2017-08-25T20:49:00","slug":"where-are-real-estate-investors-to-turn-now","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2017\/08\/where-are-real-estate-investors-to-turn-now\/","title":{"rendered":"Where Are Real Estate Investors to Turn Now"},"content":{"rendered":"<p style=\"text-align: justify;\">Where are real estate investors to turn now that Ontario has joined BC with housing market interventions aimed at its biggest real estate market? It depends whom you ask, and that\u2019s what BuzzBuzzNews has done.<\/p>\n<p style=\"text-align: justify;\">\u201cBased upon our analysis of the latest CREA data release, nationally speaking, the market to watch this summer is Montreal \u2014 where prices have increased 3.8% from April to July 2017, to an average of $378,401,\u201d writes Mark Bernhardt, a spokesperson for Zoocasa, a Canadian real estate listings site.<\/p>\n<p style=\"text-align: justify;\">Shortly after Ontario introduced the Fair Housing Plan in April, which includes a foreign-homebuyer tax for the Greater Golden Horseshoe and expanded provincial rent control \u2014 among 14 other points \u2014 others had noted there were likely implications for home pricing in Montreal with non-residents expected to look outside the GTA.<\/p>\n<p style=\"text-align: justify;\">But in addition to Montreal, Zoocasa highlighted St. John\u2019s as another market to keep an eye on. Through that same April-July period, the average price soared 11.6%, arriving at $306,877.<\/p>\n<p style=\"text-align: justify;\">And while the GTA has been cooling ever since the Fair Housing Plan was announced, don\u2019t count the market out just yet, Zoocasa suggests.<\/p>\n<p style=\"text-align: justify;\">\u201cIn the Greater Toronto real estate market, we are seeing a traditional slowdown during the summer, but transactions and prices are expected to rise again following Labour Day,\u201d Bernhardt adds.<\/p>\n<p style=\"text-align: justify;\">Don Campbell, founding partner of the Real Estate Investment Network, suggests the Ontario market\u2019s fundamentals, often said by experts to include population growth and employment, make a number of cities in the province still attractive to investors post-levy.<\/p>\n<p style=\"text-align: justify;\">Strategic investors who favour \u201clong-term yields and capital appreciation\u201d rather than speculative flipping are still snapping up properties in Barrie, Kitchener, Waterloo, Cambridge, Ottawa and Hamilton,\u201d Campbell continues.<\/p>\n<p style=\"text-align: justify;\">\u201cThey (investors) understand that even when new legislation hits a market\u2026 once these policies work their way through a housing market that the economic fundamentals always win out,\u201d he explains.<\/p>\n<p style=\"text-align: justify;\">This appears to be the case in Metro Vancouver, where a foreign-homebuyer tax was applied a year ago. \u201cThe BC market took a small pause, once again after new legislation was passed, but has now returned to its supply and demand curve,\u201d he adds.<\/p>\n<p style=\"text-align: justify;\">The Lower Mainland region\u2019s tight and expensive rental market is a draw for investors, as is the fact that housing supply is limited. While sales have not recovered to pre-tax levels, home prices have recently surpassed their previous peak, reaching a benchmark of $1,019,400 last month, according to the Canadian Real Estate Association.<\/p>\n<p style=\"text-align: justify;\">Elsewhere, investors who aren\u2019t scared off by the prospect of a volatile market are setting their sights on Calgary and Edmonton, \u201cdespite those markets still looking for a strong base from which to build back up,\u201d Campbell notes.<\/p>\n<p style=\"text-align: justify;\">Calgary, once one of Canada\u2019s hottest housing markets, went through a serious correction like Edmonton did as oil prices bottomed out in 2015 and 2015, with serious consequences for employment in the city.<\/p>\n<p style=\"text-align: justify;\">Now, Calgary\u2019s local real estate board predicts sales will inch up this year but prices will remain flat.<\/p>\n<p style=\"text-align: justify;\">\u201cWe continue to expect that process of recovery will be slow and dependent on the property type and location within the market,\u201d writes Calgary Real Estate Board Chief Economist Ann-Marie Lurie in a statement.<\/p>\n<p><a href=\"http:\/\/news.buzzbuzzhome.com\/2017\/08\/what-canadian-real-estate-markets-should-investors-look-to.html\" target=\"_blank\" rel=\"noopener\">What Canadian Real Estate Markets Should Investors Look to Now that Toronto&#8217;s Cooling?<\/a> by Josh Sherman | Buzz Buzz Home<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Where are real estate investors to turn now that Ontario has joined BC with housing market interventions aimed at its biggest real estate market? It depends whom you ask, and &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2017\/08\/where-are-real-estate-investors-to-turn-now\/\">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":[13],"tags":[],"class_list":["post-6782","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Where Are Real Estate Investors to Turn Now &#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\/08\/where-are-real-estate-investors-to-turn-now\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Where Are Real Estate Investors to Turn Now &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Where are real estate investors to turn now that Ontario has joined BC with housing market interventions aimed at its biggest real estate market? 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