TORONTO, Jan. 2, 2018 /CNW/ - Real estate website and brokerage Zoocasa has made a series of predictions for the Canadian real estate market in 2018, driven by analysis of real estate data from local and national boards and emerging market trends (such as mortgage stress tests and rising interest rates.)
The 2018 real-estate market predictions are:
- New mortgage stress tests will make it tougher for first-time homebuyers
- Interest rates will rise by 0.5% by Dec 2018
- An uptick in alternative mortgages due to the new mortgage rules
- Home sales will drop by 5% across Canada (according to the Canadian Real Estate Board)
- Out-of-reach house prices will push condo prices further up
- Toronto rents will continue rising; historically low 1% vacancy rates will be the norm
- More focus on data, specifically public access to sold home prices
To read the full report with detailed analysis, please visit: https://www.zoocasa.com/blog/zoocasas-7-real-estate-predictions-for-2018/.
Interviews can be arranged with Zoocasa Managing Editor Penelope Graham, author of Zoocasa's 2018 real estate predictions, upon request.
For further information: Media Contact: Mark Bernhardt, Communications Manager, Zoocasa Realty Inc., [email protected], 647.297.3451