{"id":960,"date":"2016-02-18T15:15:35","date_gmt":"2016-02-18T23:15:35","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=960"},"modified":"2016-02-17T14:12:31","modified_gmt":"2016-02-17T22:12:31","slug":"expert-predicts-modest-vancouver-growth-in-2016","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2016\/02\/expert-predicts-modest-vancouver-growth-in-2016\/","title":{"rendered":"Expert Predicts Modest Vancouver Growth in 2016"},"content":{"rendered":"<p style=\"text-align: justify;\">Despite the robustness of Canada\u2019s real estate sector, brokers and consumers alike should prepare for a relative cooling of the nation\u2019s traditionally in-demand markets this year, a leading economic analyst said on Thursday (February 11).<\/p>\n<p style=\"text-align: justify;\">In her report, TD economist Diana Petramala said that Vancouver\u2019s housing market is predicted to grow by a modest 7% in 2016, with an actual decrease of 2% next year. These numbers accompany a significant 20% increase in median home prices in the region last January.<\/p>\n<p style=\"text-align: justify;\">The report noted that Vancouver and other high-volume locales such as Toronto are especially at risk due to volatility induced by factors like adjustments to borrowing rates in lockstep with the US Federal Reserve\u2019s tightening measures, saying that \u201csome payback following banner years\u201d is not unexpected.<\/p>\n<p style=\"text-align: justify;\">Petramala assured market players, however, that while a cooling is inevitable at some point in the industry\u2019s life cycle, a housing crash remains a low possibility.<\/p>\n<p style=\"text-align: justify;\">\u201cToronto and Vancouver are likely benefiting from foreign investment inflows, which are expected to remain strong (or strengthen further) in light of a depressed Canadian currency (which makes housing cheaper in many better performing foreign currencies),\u201d Petramala stated in the report, as quoted by VanCity Buzz.<\/p>\n<p style=\"text-align: justify;\">Buttressing the overall health of Canadian real estate is the stability in home prices in most regions. The TD report added that cross-province movers are also emerging as major drivers for transaction volume in Ontario and British Columbia.<\/p>\n<p><a href=\"http:\/\/www.canadianrealestatemagazine.ca\/news\/expert-predicts-modest-vancouver-growth-in-2016-203241.aspx\" target=\"_blank\">Expert Predicts Modest Vancouver Growth in 2016<\/a> by Ephraim Vecina | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Despite the robustness of Canada\u2019s real estate sector, brokers and consumers alike should prepare for a relative cooling of the nation\u2019s traditionally in-demand markets this year, a leading economic analyst &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2016\/02\/expert-predicts-modest-vancouver-growth-in-2016\/\">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-960","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>Expert Predicts Modest Vancouver Growth in 2016 &#8226; 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