Focused on these 5 real estate markets and keep track of the change of events that will be happening in the housing markets. However, not all of those markets will receive good news or have a positive impact. In the coming year to come, the 5 markets include Montreal, Ottawa, Winnipeg, as well as the other two blazing markets in Vancouver and Toronto, based on the latest survey by the Urban Land Institute and predictions by PwC Canada.
As the rental market in Vancouver shows demand, mostly from the younger generations and with prices going up due to tight inventory, Vancouver has been listed amongst the top real estate market for investment, development and housing market.
The Partner and BC Real Estate Leader, PwC Canada, John Bunting said; “While Calgary continues to redefine its market, Vancouver continues to be a positive outlier in the West and outpace the country in terms of growth.” The prices are soaring as a result of the pressure being faced by the tight inventory in Toronto. The report stated that due to the high cost of moving, the renovations are strong. The poll respondents noted that the federal government uses strategies as the main barrier in bringing about expansion.
The market in Ottawa will continue to slow down, while the starts for housing will fall, the demand for new homes will also follow suit amongst development plans that are still on hold. Winnipeg is looking forward to the slow activity in the residential sector even though the economy will still continue to grow. The non-residential real estate segment will experience growth for a short while. The condo stock is being absorbed in Montreal, while the mixed-use developments is becoming more productive, mostly in the transit hubs.
A Chartered Appraiser and the Senior Vice President of the Real Estate Advisory Service at PwC Canada, PwC Canada, Annie Labbé said; “The Quebec market continues to be quite varied by region but what remains consistent is strong economic growth in Montreal and Quebec City – two of the province’s most active markets.”