Investors Reviews About Western Canada’s Real Estate Market

According to CREW’s recent data, investors have given mixed responses and reviews about the current available opportunities in Western Canada’s real estate markets.  While 34 per cent of respondents who were asked what they expect to see in the market, believe investors will continue to buy, Forty per cent of respondents, said they believe investors will hold off on buying property.

Glenn Herring, a Realtor at RE/Max in Calgary said, “Currently, buyer confidence is not as high as it has been in Calgary in light of the low price of oil and the layoffs that have been announced.”

“Whether investors will hold off or continue to buy is yet to be determined, but I believe that, while there are definitely some people taking a ‘wait-and-see approach’, there are others that view this as a buying opportunity.” He added.  Todd Millar, investor relations at Glenn Simon Inc. in Edmonton, concurred by saying in his weekly blog that it is very likely we will see softer housing prices in areas that rely on oil and gas production. “That can mean a good buying opportunity for long-term investors,” he added. “Flatter prices will inevitably frustrate those that wish to sell.”  Another 19 per cent of respondents to CREW’s poll who were asked what they expect to see in the market, said they expect to see a combination of both the wait-and-see approach and investors continuing to snap up properties. Todd Millar added that, “Looking at the current situation and economic fundamentals in Edmonton, the housing market should remain stable, but no one can ever forecast 100% accuracy,” he continued.

“Alberta, specifically Edmonton, remains the best spot in Canada to invest; however it goes without saying that risk is consistent everywhere. Building a portfolio than can weather up and down cycles is key when buying.”