Monday, November 21, 2011

RBC Predicts Canadian House Price Rise in 2012 Except for BC

Canada’s housing market forecast update
British Columbia
2011 forecast average: $603,300; 2012 forecast average: $593,200
2011 forecast gain: 8.9%; 2012 forecast gain: -1.7%

Ontario
2011 forecast average: $357,100; 2012 forecast average: $358,900
2011 forecast gain: 4.9%; 2012 forecast gain: 0.5%

In terms of prices, the gains expected this year now generally appear to be a little stronger than previously projected (5.3% overall in Canada versus 4.9% previously) but are still unlikely to move very much next year (now projected to rise 0.5% overall versus 0.1% previously)
They underestimated 2011 gains and tweaked up the forecast for 2012. The report is good news for those in favor of a massive wealth transfer between generations. Young and want to set up house without renting? Jump on the massive debt bandwagon with the proceeds going to the generation before you.

1 comment:

Dave Velasco said...
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