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Posts Tagged ‘Canadian Housing’

International Property News Beat – Foreign Demand for Florida Property, Karzai in Dubai & Pricey London Homes

by Overseas Property Mall on Wednesday, September 15th, 2010 in Property News Summaries

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Letting Some Steam out of the Canadian Housing Market

by Overseas Property Mall on Friday, February 26th, 2010 in Canadian Property, North American Property

sunset-in-toronto-canada Canada has lost track of its geographic location, or you would certainly think so if you look at the Canadian housing market. In a year when house prices around the world fell, Canadian house prices rose some 20% in 2009. Yes, Canada was not the only country to see a rapid rise in prices, Australia, New Zealand and several countries in Asia did also, but Canada is certainly the only country on the Americas Land Mass that saw such rapid growth in house prices in 2009. Now the Central Bank and authorities are being forced to take measures to cool the housing market down.

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International Property News Beat – Harvard Real Estate, Trump in Scotland & Emmar’s Profits

by Overseas Property Mall on Friday, February 19th, 2010 in Property News Summaries

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A Buyers’ Market in Canada at the Moment

by Overseas Property Mall on Wednesday, September 3rd, 2008 in Canadian Property

toronto-skyline-150x150.jpgAccording to a recent press release by the Canadian Real Estate Association (CREA), the number of new listings of homes for sale in Canada have reached an all time high of 80,147 units in the month of July, up 1.4 per cent from June. Whilst the provinces of Ontario, Quebec and Manitoba recorded the most growth activity, new listing levels in Alberta fell from the all time high earlier in March.

It appears the increase in the stock levels of Canadian property is attributed to home owners’ rushing to take advantage of Canada’s currently high house prices by putting their homes on the market in the hope for a quick profit.

Although this is not a property glut situation, more units in the Canadian housing market indicates more choice and options for prospective buyers, making it more of a a buyers’ market at the moment.

Buyer should be cautious that the national statistics do not not hold true in all provinces. In Alberta for instance, where house prices have slightly fallen, new listings have been on a decline from April to July 2008.

Read the CREA press release for more information on a province/city level to guide your investment decision.

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