Ravi Hooda
Realtor (B.com, MBA)

Re/Max Gold Realty Inc.
Brokerage
Independently owned and operated

2980 Drew Rd, Unit 231, Mississauga, ON L4T 0A7

Call: 416-825-5032  Fax: (905) 673-8900  Mobile: 4168255032

Real estate outlook lifts consumer confidence

April 22, 2014 - Updated: April 22, 2014

Real estate outlook lifts consumer confidence

Canadian consumer confidence surged to the highest in more than three years amid rising optimism over the outlook for real estate and the economy.

Canadian consumer confidence surged to the highest in more than three years amid rising optimism over the outlook for real estate and the economy.
TORONTO STAR/FILE PHOTO

 

Canadian consumer confidence surged to the highest in more than three years amid rising optimism over the outlook for real estate and the economy. TORONTO STAR/FILE PHOTO

OTTAWA — Canadian consumer confidence surged to the highest in more than three years amid rising optimism over the outlook for real estate and the economy.

The Bloomberg Nanos Confidence Index climbed to 60.0 in the week ended April 18 from 59.0 the previous period, the highest level since March 2011. Declines in measures of job security and personal finances tempered the gain.

Buyers are returning to Canada’s real-estate market after one of the harshest winters in decades. Existing home sales rose at their fastest pace in seven months in March, led by transactions in Alberta, the Canadian Real Estate Association reported last week.

“The one-week gain was largely fueled by more positive perceptions on the projected future strength of the Canadian economy and the value of real estate,” said Nanos Research Group Chairman Nik Nanos. “Both of these measures were up about three percentage points in one week.”

Optimism about housing reached a two-year high, with the share of respondents who see higher property values over the next six months climbing to 42.2, the highest since March 2012, according to the Nanos report.

Respondents who see the economy strengthening in the next six months rose to 25.7 per cent, the greatest in more than a year, from 22.8 per cent, while those who see it weaker dropped to 16.3 per cent, the lowest since 2010.

The Bank of Canada said last week it continues to see a “gradual strengthening” of the world’s 11th largest economy, even as it trimmed its forecast for growth this year to 2.3 per cent from 2.5 per cent. The country’s recovery hinges on an upturn in exports and investment, the central bank said in keeping its benchmark interest rate at 1 per cent.

While warning that elevated household debts represent a “significant risk,” the central bank reiterated its call for Canada’s housing market to make a “soft landing.”

Canada’s inflation rate rebounded in March as rising energy prices triggered the biggest gain in shelter costs in more than three years, Statistics Canada reported April 17. “Inflation appears to have bottomed out and we believe that it should gradually drift higher for the rest of the year,” Charles St- Arnaud, Nomura Securities International Inc. senior economist, said in a research note after the report.

Statistics Canada will report wholesale sales for the month of February on April 22, followed the day after by February retail sales. Poloz is scheduled to speak in Saskatoon, Saskatchewan on April 24.

 

 

 


Tagged with: toronto home sales trends real estate news property news home sales house sale how to sell my house how to buy a house buying a property home house apartment condo apartment town home town houses for sale in brampton toronto mississauga etobicoke vaughan richmond hill milton oakvilletoronto home sales expected to be brisk this summer low inventory could drive up prices 8 per cent this year remax says in new report share on facebook reddit this toronto home sales are expected to remain so brisk over the coming months prices could jump seven or eight per cent by the end of this year says a new report from real estate giant remax. canadian pressfile photo toronto home sales are expected to remain so brisk over the coming months says a new report from real estate giant remax. canadian pressfile photo by susan pigg business reporter published on tue apr 15 2014 canadas housing market may be gradually cooling
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