Consumer confidence improves especially for real estate

The confidence of Canadian consumers has risen slightly, according to the latest weekly analysis from Bloomberg and Nanos Research.

The overall index increased to 53.20 for the week ending Aug. 21 from 52.32 a week earlier and the sub-indexes for economy, personal finances, job security and real estate prices all showed increased positivity.

“Of note there was a noticeable one-week gain in terms of the perceptions of real estate,” said Nanos Research Group Chairman Nik Nanos. “This will have to be monitored to see if this is a potential new trend.”

The percentage of those surveyed who believe that real estate prices will be higher in six months was up to 34.13 per cent from 31.73 a week earlier.

Optimism was strongest in Atlantic Canada, Ontario and B.C. Owners and renters both showed increased sentiment and those earning above $45,000 were the most confident. 

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