Home prices will continue to grow this year but at a slower pace than in 2015 according to a new report from Royal LePage. “The frenetic pace of our country’s largest housing markets should moderate throughout the year ahead,” said Phil Soper, president and chief executive officer, Royal LePage. “While most of the country will continue to see house value appreciation in 2016, we expect that the pace of price increases in Greater Vancouver and the Greater Toronto Area – where real estate appreciation has significantly outpaced job and wage growth – will settle to a more sustainable, single-digit price increase trajectory.
Economic pressures in Western Canada and affordability in Vancouver and Toronto will be in focus. The brokerage expects Montreal to see significant growth this year to become Canada’s third ‘city to watch’.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
More market watch: