HOME RATES ABOUT SERVICES VIDEOS BLOG CONTACT ME TEAM
Lawless Brown Mortgage Team Mortgage Professionals

Lawless Brown Mortgage Team

Mortgage Professionals


Office:
Phone:
Address:
109-3550 Saanich Road, Victoria, British Columbia

BROWSE

PARTNERS

BROWSE

PARTNERS

COMPLETE

THE SURVEY

REFER

A FRIEND

Brexit to Fuel Canada Home Prices in Highest Forecast Since 2000

7/26/2016

Home prices across Canada are set to jump this year as interest rates are kept near record lows by economic uncertainty from the U.K. referendum to leave the European Union, according to brokerage Royal LePage.

 

The average house price will rise 12.4 percent from 2015 to C$563,000 ($434,000), the highest year-over-year forecast from a real estate firm since at least 2000, Royal LePage reported Wednesday. With turmoil from June’s Brexit decision filtering into Canada’s economy, homebuyers can expect mortgage rates to stay low and steady demand to continue to push prices higher, said Phil Soper, the brokerage’s chief executive officer.

 

Price gains will be led by Toronto and Vancouver, the country’s hottest housing markets. The average price of a Vancouver property -- including condominiums, two-story homes and bungalows -- will surge 27 percent from last year to C$1.2 million, according to Royal LePage. Prices in Toronto are forecast to climb 14.9 percent to C$718,000. The only major city set to cool is Edmonton, sliding 1 percent to C$376,700.

 

 

Bloomberg

MY LENDERS

TD Bank Scotia Bank First National MCAP B2B Bank Home Trust
Merix Equitable Bank RFA CMLS ICICI Bank Manulife
Attain Mortgage Haventree Bank HomeEquity Bank Lifecycle Mortgage Sequence Wealth One
Fisgard Capital Optimum RMG Mortgages Bridgewater Marathon Mortgages Vault