Real Estate News Headlines // January 4th 2016

Jethro Seymour, one of the Top Toronto Real Estate Brokers, provides you with Canadian real estate news headlines

Justin Trudeau has thrown himself into the great debate over Canada’s surging house prices, fueled in part by investors from China and elsewhere.
A conversation has been growing about the impact of foreign investors in Canadian real estate, who some argue are driving up Canada’s home prices, meriting calls for restrictions on foreign investment. But in an interview with Canada’s Global Television Network, the prime minister suggested that restricting investment is not a route he’s prepared to venture down just yet.

Sellers are celebrating a banner year for Vancouver’s real-estate market, but critics say the high prices could create problems for the region’s economy and environment.
The benchmark price for residential property in Metro Vancouver was $752,500 in November, up nearly 18 per cent from 2014, according to the Real Estate Board of Greater Vancouver.
The high prices aren’t stopping young people from looking to buy, however. Dan Morrison, the board’s president-elect, said he’s working with a lot of first-time buyers who want to get into the market but are having difficulties finding a home because they are outbid time and again.

Canadians are starting to lose faith in their housing market.
A gauge of real-estate sentiment dropped by the most in three years last week, according to telephone polling by Nanos Research Group. That dragged the broad consumer confidence Index down for a sixth week, as the recently elected Liberal government introduces measures to restrict mortgage availability in larger cities.


Jethro Seymour, Davisville Real Estate Broker at Royal LePage RES Ltd., Johnston & Daniel Division

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