As written in the Toronto Sun .Canada’s real estate market showed no sign of losing steam in February, with housing starts rising faster than expected and a new survey showing 10% of Canadians expect to buy a home in the next two years.
Seasonally adjusted housing starts were 196,700 in the month, up from 185,400 in January, according to figures from the Canadian Mortgage Housing Corp. That was above analysts’ forecasts for a 190,000 gain.
RBC’s 17th annual home ownership study found that the number of Canadians saying they are very likely to buy a new home rose from 7% two years ago to 10%. The number of people who view their house as a good investment rose to a 12-year high of 91%.
Canada’s real estate market has been one of the main drivers of economic growth, with housing construction helping to power a 5% expansion in gross domestic product in the fourth quarter.
Some economists have forecast that the property market will begin to cool from the second half, when the Bank of Canada is expected to begin raising interest rates and demand and supply of available housing becomes more balanced.
“The gain in February housing starts was concentrated in the multiple starts segment, particularly in Toronto,” said Bob Dugan, chief economist at CMHC’s Market Analysis Centre.
Urban multiple starts, or condos, increased by 19.1% to 89,900 units while single urban starts increased by 0.5% to 89,200 units.
Urban starts rose 28.6% in Ontario, 14.3% in Atlantic Canada, 10.8% in the Prairie region and 8% in British Columbia. In Quebec, urban starts dropped 14.1%.
Rural starts were estimated at a seasonally adjusted annual rate of 17,600 units in February.
According to the RBC poll, younger Canadians between the ages of 18 to 24 are likely to lead the market. About 15% said they were likely to buy, almost double the number in 2009.
About 60% also believe housing prices will continue to rise this year, up from just 25% this time a year ago. They also expect mortgage rates to rise, with two-thirds expecting to have to pay more, the bank said.
That belief is being reflected in the choice of mortgage, with 16% opting for a variable rate loan compared with 20% last year.
We would like to thank Ms. Sharon Singleton of The Toronto Sun
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Banque Royale du Canada (RBC Bank): Corporate Bully
ReplyDelete$ 100,000 - ERREUR (prêts aux pêcheurs)
Je suis un pêcheur commercial lutte contre la Banque Royale du Canada (RBC Banque) sur une erreur de 100.000 dollars de prêts. J'ai perdu ma maison, navire de pêche et du matériel.
Il n'y avait pas de date de paiement mensuel des intérêts ou le montant des intérêts à payer par mois sur mon contrat de prêt. Date de premier versement (capital + intérêts) est d'environ 1 an après la signature de mon contrat.
Accords de prêt remboursable sur demande signée par d'autres pêcheurs à la même époque communiqués mensuels les dates de paiement des intérêts et le montant des intérêts à payer par la politique de prêt month.The pour les pêcheurs n'ont pas changé à RBC d'un paiement (principal + intérêts) par an pour les prêts de pêche à capital payé par an avec Intérêts versés mensuellement. Cette pratique des prêts a été en place lorsque je m'approchai de RBC.
Seul problème, c'est l'agent de prêts a été un remplaçant qui n'était pas familier avec ce type de prêts. Elle ne m'a jamais informé verbalement ou par écrit sur ce nouveau critère.
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I always try to know more about Canadian real estate market in every month.I like that you have given information in detain about market.I have heard that The Bank of Canada is also expected to begin bumping interest rates higher in the second half of the year
ReplyDeletedean graziosi