No "doom and gloom" in store for Canadian real estate – Royal LePage’s Soper

by Ephraim Vecina29 Jul 2020


Sustained market strength, subject to supply constraints, will be the predominant dynamic in the Canadian housing sector for the rest of the year, according to Royal LePage CEO Phil Soper and Sotheby’s Canada CEO Don Kottick.


In a joint interview with The Financial Post, the two executives highlighted the major role that housing inventory will play in the period immediately after the COVID-19 pandemic eases.

Soper said that home prices largely rely on the balance between supply and buyer activity.

“There are a lot of people who are looking to put roofs over their heads,” Soper said. “We just don’t see the number of homes for sale, the supply side of this, climbing to the point where home prices will collapse.”

Royal LePage’s latest predictions have placed annual growth by year-end at 2.5%.


https://www.canadianrealestatemagazine.ca/news/no-doom-and-gloom-in-store-for-canadian-real-estate--royal-lepages-soper-331927.aspx

MORTGAGE RATE FORECAST......BCREA


As the year ends, it's worth reflecting on how significantly the Canadian interest rate environment has changed in just twelve months. One year ago, the Canadian yield curve was its usual upward sloping shape, with markets expecting gradual rate increases by the Bank of Canada. Based partly on those expectations, Canadian mortgage rates were climbing. However, within 8 months the yield curve in Canada had inverted, bond yields tumbled, and Canadian mortgage rates were once again heading lower.


https://www.bcrea.bc.ca/economics/mortgage-rate-forecast/


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CHINESE INVESTORS BUY ONE-THIRD OF VANCOUVER HOMES: NATIONAL BANK ESTIMATE

 

Vancouver — Buyers from China comprised about one-third of purchases of Vancouver’s hot housing market in 2015, according to “back of the envelope calculations” by National Bank of Canada.

Chinese investors spent about $12.7 billion on real estate in Vancouver in 2015,



Read more: http://www.vancouversun.com/business/chinese+investors+third+vancouver+homes+national+

bank+estimate/11804486/story.html#ixzz43m8zuIh2



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A major $30-million attraction will be opening at Whistler on March 12, but unlike the many recreational activities the resort town is known for this attraction is grounded on celebrating local art.

The Audain Art Museum, Whistler’s largest cultural attraction, is wedged into a forested area at the base of Whistler and Blackcomb mountains – on Blackcomb Way, at the eastern of Village Gate Boulevard.

See more at:  http://www.vancitybuzz.com/2016/03/whistler-audain-art-museum-village/  

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