Senior Canadian real estate and finance industry executives gathered in
Toronto on June 27 to share their views on the Canadian residential
real estate market at the Centract Property Summit
TORONTO, June 28, 2012 /CNW/ - Centract Settlement Services, Canada's
largest appraisal management company, held the Centract Property Summit
2012 in Toronto where leaders of the Canadian residential real estate
community discussed current industry trends and issues.
According to an audience participation survey distributed at the event,
65 per cent of those who attended believe that debt levels in Canada
are too high to maintain the current rates of real estate consumption.
Moreover, 70 per cent of the audience consider Canadian house prices
are currently overvalued by up to 15 per cent. The audience was also
asked their thoughts on recent mortgage legislation in which an
overwhelming majority, 98 per cent, believe that the new rules will
have a dampening effect on residential real estate markets.
The one-day summit featuring panel presentations focused on residential
real estate issues across Canada, with a particular focus on near or
future price-corrections. Insights were also provided on Canadian
consumer's home buying and selling habits. The Centract Property Summit
drew a crowd of over 120 senior executives from Canada's financial
institutions, mortgage insurers, government, academia and other real
estate focused businesses and consultants.
"We were obviously pleased with the great response to our summit and to
attract a long list of top-notch speakers, thought leaders and such a
high-calibre audience was beyond our greatest expectations" said Phil
West, President of Centract Settlement Services.
About Centract Settlement Services
Centract Settlement Services, a Brookfield Residential Property Services
company, is the largest provider of residential real estate valuation
and residential real estate business intelligence to the major banks,
financial institutions, mortgage brokers and real estate businesses in
Canada. The company's valuation expertise crosses and facilitates all
facets of the real estate and mortgage transactions - from policy
development to lead generation, transaction management, portfolio
optimization through to collection and asset recovery. Given its
breadth and experience, Centract Settlement Services' insight into
property valuation and home value trends are unmatched.
SOURCE CENTRACT Settlement Services
For further information:
Sarah Louise Gardiner