June Market Report – Metro Vancouver Real Estate
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Special Feature: Brexit’s Impact on Vancouver Real Estate Values…
Unexpectedly Good! (See Below)
Brexit wiped 2 trillion dollars of wealth from global financial markets in a single day so one would naturally expect Metro Vancouver’s white hot real estate market to cool a bit, right?
WRONG… Or at least that’s what several noted Canadian and global financial experts and economists are predicting. When stock markets dive, investors typically retreat to other ‘safer’ investments while they await a return to stability in the markets. High on the list of safe heavens to store wealth during turbulent times… Gold… And housing.
Uncertainty in global financial markets means interest rates are likely to remain low here in Canada, and the US. The continuation of low interest rates combined with billions of dollars pouring out of global financial markets into safe havens like housing, has many financial experts predicting Brexit will further accelerate increases in Metro Vancouver’s housing market. With a stable economy and political backdrop, many experts are predicting further increases of foreign investment in Canadian real estate particularly in the country’s hottest markets, Toronto, and most notably Vancouver.
No one has a crystal ball, but financial experts and economists earn their living predicting the ripple effect of global events on local economies. By most expert accounts, the outlook for Brexit’s impact on Metro Vancouver housing prices is unexpectedly good for those who already own their homes here.
While first time home-buyers won’t see any price breaks, a continuation of low interest rates is good news.
For some home-owners, now may be a good time to consider taking your profits off the table. As always, please contact us for a free market evaluation. Our experienced team of Realtors always factors in both local and global economic forces affecting your real estate investments. We are invested in growing and protecting your real estate wealth: email@example.com / 604-715-2605.