The real estate market has always been driven by speculation:

  • Will the price my current home go up?
  • Will the price of my dream Vancouver home drop in the next couple years?
  • What will Canadian interest rates do?
  • Will new Canadian mortgage laws affect the size of loan you can qualify for?
  • Will demand in a particular Surrey or Vancouver neighborhood continue to grow?

Often these speculations are driven by the headlines we see online, watch on the news, read in the newspapers and hear from our friends and family.

The report assures Canadians that there will not be the speculated collapse or drop in prices and in fact we may see pricing rebound after recent corrections. The long term result: increases in home prices will average about 2% over the next decade. Taking into account the cost of inflation home prices will remain relatively flat.A special report just released by TD Canada Trust, one of Canada’s largest banks, speculates that the last decade of real estate has been strong and the next decade of real estate will be a “payback” period.

The very last paragraph in this Huffington Post article reassures us in Vancouver:

“The two biggest factors in trend home prices are population growth and housing formation, which both favour Toronto and Vancouver.”

The study predicts that Vancouver, along with Toronto, Victoria, Edmonton and Calgary will stay above the national average of home prices over the next decade.

If you are interested in personally discussing the Surrey, Lower Mainland or Vancouver real estate market I would be pleased to meet with you. We can talk about speculation in the market plus your own personal goals and lifestyle choices to determine the ideal time for you to buy and sell.

Contact me at ntaylor@sutton.com or by phone or text at 778-316-4290.

More articles about TD Bank’s Canadian Real Estate Forecast 2013:

 

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