Torontonian Online Running in the fast lane! Real estate and more…
Related Articles
Scotiabank recently published a report (source: link below) stating that Housing Market in Canada will drop 1.6% over 2011 but prices will rise by 1.3%. The interest rate annoucement made yesterday by Bank of Canada seem to take into consideration this data as well.
There was no change in the Bank of Canada’s over night lending rate and they didn’t give any hint of any interest rates hike coming soon which was contrary to popular belief in the industry. The hikes will come but it seems they will be much softer in introducing them in the marketplace.
There’s already a lot of activity taking place in Toronto in January and February with insufficient supply of great properties. If you are thinking of selling, the first half of the year would be a great time to get your property listed before the interest rate increases would come into play.
The recent rate announcement has put some upward pressure on price and I expect to see some increased demand for the first half.
Comments and suggestions are always welcomed!
Canadian home prices to rise modestly – Scotiabank | Reuters.
