Real estate prices pause in Canada
Latest reports show that prices of real estate in Canada are beginning to steady with the exception of homes in Vancouver.
Most experts agree that residential real estate in Canada is overpriced after the last couple of years of soaring price appreciation. But figures from March show that on average house prices increased by just over 4 per cent. The Vancouver property arena proved the exception in this district price rose by almost 13.5 per cent.
Property analysts now predict of non movement of prices - rather than a decline. As the year plays out house price increases are expected to slow or even stop altogether.
Home affordability has worsened in recent years and as many people struggle to join the property ladder the rental market has grown to accommodate demand.
Experts believe generally the markets not supported by foreign investors will begin to cool and will largely remain flat for the foreseeable future.