B.C.91裸聊视频檚 hot real estate market is expected to continue to slow over the next two years, according to new figures from the Canadian Mortgage and Housing Corporation.
House prices in the province, especially in Metro Vancouver, are set to level out in line with salaries, jobs and population growth, the Crown corporation said Tuesday.
New construction is also expected to slow down to match lower demand, with condo starts barely hitting 25,000 a year in B.C., down from 31,318 new condo starts last year.
91裸聊视频淪hifting market conditions across B.C.91裸聊视频檚 large urban centres is resulting in movement back towards balanced or even buyers91裸聊视频� market conditions in some cases, which is beginning to flatten price growth or, in some areas, result in price declines,91裸聊视频� the corporation91裸聊视频檚 report noted.
Adil Dinani, a Coquitlam-based realtor with Royal LePage, said the slow shift towards a buyers91裸聊视频� market was a mix of government policy and natural market cycles.
91裸聊视频淚f you look at the past decade since 2009, when we came out of the heights of the recession, we91裸聊视频檝e been the beneficiaries of a very strong real estate market,91裸聊视频� said Dinani.
91裸聊视频淲e91裸聊视频檙e at a point where adjustment and moderation like we91裸聊视频檙e experiencing now is normal and natural.91裸聊视频�
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Dinani pointed to the provincial NDP, who came to power last summer on promises to cool Metro Vancouver91裸聊视频檚 housing market.
91裸聊视频淭hey91裸聊视频檝e bumped up the tax to foreign buyers, they91裸聊视频檝e introduced the speculation tax,91裸聊视频� said Dinani.
Mayoral elections across the province, particularly with mostly newcomers taking the reigns in Metro Vancouver, could also see a shift in municipal housing policy.
Dinani cited Kennedy Stewart91裸聊视频檚 promises to put forward stricter measures to get a grip on that city91裸聊视频檚 housing woes.
But despite the slowdown, Dinani doesn91裸聊视频檛 think recent buyers should be worried.
91裸聊视频淚f we look at history91裸聊视频� every [recent] dip was very short lived, usually six to nine months,91裸聊视频� he said.
91裸聊视频淚 believe if you buy real estate today and have a longterm time horizon, it will be a fruitful investment.91裸聊视频�
Dinani acknowledged the could affect that, but said that the shift to a buyers91裸聊视频� market was probably healthy overall.
91裸聊视频淚f you were looking to buy a condo in the first quarter of 2018, you were competing sometimes against 10-12 offers,91裸聊视频� he said.
91裸聊视频淣ow, you can probably approach that same property being the only offer on the table and91裸聊视频� probably negotiating off the price a little bit instead of feeling like your back is off the wall.91裸聊视频�
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