- Sixth edition of bi-annual report focusses also on foreign home ownership & housing supply
- Survey of Canadian domestic realtors was conducted in July 2016
- No definitive evidence that Canadians are over-confident about the current housing market
TORONTO, Sept. 26, 2016 /CNW/ - Fortress Real Developments (Fortress) released their latest report on the Canadian housing market earlier this month, which includes the results of a survey of Canadian realtors. The opinions of Canadian housing analysts, builders/developers, and mortgage brokers/agents were reported in previous reports. The report authored by Senior Vice-President of Market Research and Analytics, Ben Myers includes original research and and surveys compiled by Fortress, supplemented by statistics and data from several independent third-party sources. Mr. Myers is an analyst with 15 years experience researching real estate markets across North America.
National and macro-economic figures are helpful, but first hand transactional knowledge from local real-estate professionals is invaluable. Fortress was interested in getting feedback from these professionals in terms of vulnerabilities and potential red flags in their respective residential housing markets, as well as future trends to watch. Among the highlights in the Realtor Survey section of the report are:
- Canadians are prudent borrowers with less than 10% of homebuyers over leveraged;
- Prospective home buyers in 2016 are putting more down than buyers in 2015;
- Domestic investors are significant participants in today's market, with the majority putting over 20% down on their real estate purchases;
- Canadians are willing to move out of major metro areas to buy their desired home at an more affordable price; and
- Realtors predict a major increase in families living in condominiums in the next 5 to 10 years.
"Although families are beginning to buy in high-rise condominiums, it is a slow moving trend", says Myers. "The desire of families to have single-detached homes with backyards and property will not subside anytime soon, and will continue to distort pricing and lead to increased demand in outer-suburban communities."
The full report is available at - https://fortressrealdevelopments.com/news/mm-ben-myers-pulse-edition-fall-2016/
About Fortress Real Developments
Fortress Real Developments Inc. is a Canadian real estate development company that seeks out and analyzes real estate development opportunities in major Canadian markets. The company is focused on quality projects with recognizable alpha in residential low-rise, high-rise, commercial and industrial market segments. For more information visit: http://fortressrealdevelopments.com
SOURCE Fortress Real Developments
For further information: Jenni Byrne, Bayfield Strategy, Inc., [email protected], Phone: (613) 986-4097