With the slow down in the market, comes a slow down in builds and starts. While this price correction that has happened is good for all, this won’t last forever. Most experts agree that many factors will cause a rebound in the market because of these and other factors. One important factor beyond housing starts is the trickle effect now of Hong Kong Canadians starting to return and expected to reach a feverous pitch in the new year.
With prices actually starting to slightly increase even with low sales numbers, you may never have a better opportunity to get into the market as you do today.
MLA Advisory’s April 2019 Pre-Sale Real Estate Insights states approximately 5,000 concrete units within 17 development projects have postponed their sales launches and are instead opting to await for more favourable market conditions.
“These concrete pre-sale project delays, along with decreases in housing starts by up to 20% province-wide, will have drastic longterm implications on our housing supply, affordability and home ownership,” reads the report, citing the impact of new government interventions and municipal regulations. Read more here.