Canadians more optimistic of housing market – survey

In the wake of an improved rate of economic recovery, the number of Canadians holding a more optimistic view of the country’s housing market has noticeably increased, according to a recent survey.
 
The study conducted by the Nanos Research Group—which polls 250 respondents weekly to yield a 4-week average of 1,000 people—showed that as of April 15, approximately 39.4 per cent of Canadians are expecting that housing prices would grow in the next six months. The previous week had 38.3 per cent being optimistic of the market’s prospects in the near future.
 
Meanwhile, 16.6 per cent of the April 15 respondents are looking at price drops within the year, down from 17.1 per cent the previous week.
 
The poll results added that 26.2 per cent are looking forward to a stronger economy in 2016, the highest percentage since mid-November.
 
Nanos Research officials attributed this more upbeat climate to the real estate market’s apparent health, which is continuing to prop up the Canadian economy.
 
“Forward looking views on real estate and the strength of the Canadian economy are noticeably above the 2016 average for those two measures. This is in contrast to perceptions related to job security and personal finances which are flat for 2016,” Nanos Research head Nik Nanos said in a statement, as quoted by Bloomberg.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Investment Hot Spots:
Cheney, Pembroke, West Middle Sable, Rainy Lake 17A, Saint-Philémon

COMMENTS

  • by NoXungThien 2016-04-25 10:11:26 AM

    What kind of optimistic for housing market is this ? Look closely to pricing & the cost to own a house ( property tax, utilities, mortgage ... on top of other tight spending needs minus vacation ! ), how can a young couple in 30 or even 40 of middle class with average combined income of 150k + 2 kids afford a house to call their own ---> average of 500k in GTA or close to 60 minutes driving to work ( ah ! gas price is "low" in Canada, too ) area still over 300k to 400k. This is BS ! I wish the market correction comes soon to reflect the true value of the Canadian housing market since this is only good for the realtors not the buyers !

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Poll

Have your investment plans changed for 2017?