Want to hear something positive about the Canadian housing market? Ask an Albertan!
Photo: Michael Gil/Flickr
Albertans have the most positive forward-looking view of the Canadian real estate market, according to a new survey conducted by Point2 Homes.
The Saskatoon-based real estate portal surveyed 1,232 individuals across Canada on their confidence in the country’s housing market. Confidence that prices will continue to rise was highest in Alberta, where 73 per cent of participants said they believed local real estate prices would keep climbing.
Breaking those results down further, 86 per cent of Calgary residents and 81 per cent of Edmonton residents said they anticipate a price increase.
Responding to the same question, 45 per cent of BC residents said they believed prices would rise while only 40 per cent of respondents in Saskatchewan said prices would rise.
When taken together, the full national results of the Point2 survey show that 51 per cent of respondents expect to see a significant jump in local house prices in 2014. Meanwhile, 26 per cent believe it will remain “largely unchanged” and 23 per cent said they anticipate a decline in prices.
Recent headlines likely have given Albertans good reason to be confident, especially residents of Calgary where home prices hit new highs and home sales leaped year-over-year in May
Confidence in the housing market’s future isn’t the only thing that varies by region. See how location comes into play when the big banks analyze the latest home sales numbers from the Canadian Real Estate Association.