Vince Mirabelli, First Choice Realty, says he hasn’t seen a slowdown in investor activity in light of market reports.
“I don't find my new clients hesitant to enter the market or my more-seasoned ones continuing to add their portfolio,” he tells Canadian Real Estate Wealth. “I think my clients are smart enough to make their own decision and not go on what the media paints the picture as.”
The reports coming out are conservative because there is this on-going fear that the bottom of the market is going to fall out, he says.
“You have these reports coming out at the same time that some of the banks are dropping interest rates again,” says Mirabelli, echoing the sentiment of many other industry insiders. “I know it has been causing a state of confusion for some people but I am finding my clients are sticking to what they know themselves.”
Still, Navtaj Chandhoke, founder of Professional Real Estate Investors Group (PREIG) Canada, suggests that certain markets may be facing more of a slowdown than others.
“Based upon performance and facts,” he says. “The only market which is showing slowing down is Vancouver residential and condo market.
That means novice investors should look at the fundamentals for their own markets, he says, and avoid “sensationalism” created by market analysts.
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