Real estate is a hot topic around B.C. dinner tables and 2018 is shaping up to be another controversial year.
Real estate website and brokerage Zoocasa recently made a series of predictions for the Canadian real estate market in 2018, driven by analysis of real estate data from local and national boards and emerging market trends (such as mortgage stress tests and rising interest rates.)
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The 2018 real-estate market predictions are:
- New mortgage stress tests will make it tougher for first-time homebuyers
- Interest rates will rise by 0.5% by Dec 2018
- An uptick in alternative mortgages due to the new mortgage rules
- Home sales will drop by 5% across Canada (according to the Canadian Real Estate Board)
- Out-of-reach house prices will push condo prices further up
- Rents in major centres will continue rising; historically low 1% vacancy rates will be the norm
- More focus on data, specifically public access to sold home prices
To read the full report with detailed analysis, visit: https://www.zoocasa.com/blog/zoocasas-7-real-estate-predictions-for-2018.