Canadians expect higher home prices this year

A growing number of Canadians are calling for higher real estate prices in the next six months according to the latest confidence survey from Bloomberg and Nanos Research.

The overall index on the economy was little changed in the week ending Mar 18 compared to the week earlier but the real estate metric has been on the increase.

“Although offset by other variables, perceptions on real estate continued to trend up five points higher than in January,” said Nanos Research Group Chairman Nik Nanos. “In January 29.4 per cent of Canadians said they thought the value of real estate would increase in their neighbourhood and now this figure stands at 34.8 per cent”.

Respondents were also more optimistic about job security, but less so about the economy and their own personal finances including mortgages. Quebec and the Prairies were the provinces that declined in overall confidence and renters were more positive with homeowners less so.

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