As young Canadians continue to grapple with property prices that spiked during the pandemic, a new survey has found first-time buyers are getting more help than ever from their parents. Almost a third of first-home buyers have already received financial assistance from family members this year, according to a survey by the Canadian Imperial Bank…
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The cut in the interest rate at the beginning of June has been welcomed by homeowners and those trying to break into the market. It wasn’t borrowers’ complaints who forced the Bank of Canada (BoC) to act, but the fact we achieved an inflation rate within the target band of 2-3%. Our Consumer Price Index…
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The New Zealand property market is about to undergo a seismic shift. From July 1, the bright-line tax rule for property investors and holiday homeowners will change from 10 years to just two years. Any property (other than your primary residence) sold within two years of purchase will trigger a capital gains tax on the…
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The Canadian housing market recorded mixed results at the end of the spring selling season. While some provinces saw record-breaking average home prices, others experienced a downward adjustment. Our market is stabilising with the number of sales and their prices levelling off in many areas. As an experienced local real estate agency, we believe the…
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Annual consumer prices are continuing to fall, and that’s good news for property buyers and sellers hoping to see a cut in interest rates in the near future. Statistics Canada says the April annual inflation reading was 2.7%, down from 2.9% in March. A 1.4% drop in food prices helped achieve this positive result. However,…
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The latest figures from the OneRoof-Valocity House Value Index reveal a shift in power towards buyers, driven by a surge in listings and the lingering effects of high interest rates. While New Zealand’s average property value increased modestly by 0.4% to $977,000 in the last quarter, the number of homes for sale has soared, exceeding…
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The debate about the future of real estate in Canada often swings around to the topic of the housing shortage. The Royal Bank of Canada has voiced its opinion on the question of affordability, highlighting its estimate that a million households will not be able to afford a home by 2030. It also claims that…
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New housing initiatives valued at $8.5 billion and designed to boost the real estate market were released in the recent Federal Budget. The Government’s biggest promise was a pledge to construct 3.87 million homes by 2031. Buyers will also be allowed to withdraw up to $60,000 via the Registered Retired Saving Plan (RRSP) Home Buyers’…
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Anyone who doubts the value of real estate as an investment might want to consider the disparity between the average price of a home today and the cost in 2014. The price difference is almost 60%: an excellent result for homeowners and investors alike. It’s tough to hear for those who are seeking to enter…
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Canadians under the age of 35 are carrying greater financial debt than two years ago and face increasing challenges to achieving home ownership, according to the agency Statistics Canada. Young households had seen their mortgage burden increase over the past 12 months, and their accumulation of wealth was slowing. StatCan pointed to higher interest rates…
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