BC, Ontario lead confidence as real estate gains

The rise in home prices in British Columbia and Ontario is driving consumer confidence while other provinces are more subdued.

The latest weekly Canadian Consumer Confidence Index from Bloomberg and Nanos Research shows an overall rise to 57.25 from a week earlier but below the 2016 high of 58.39 seen mid-June.

Optimism in BC is at 63.73 and in Ontario it’s 61.20 with Quebec and The Prairies also higher from the previous week while Atlantic Canada saw sentiment slip.

Renters showed more confidence than homeowners although the percentage of respondents who expect home prices to be higher in 6 months ticked higher.

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