Investing in the Future? Look at Bricks and Mortar
Investing in the Future? Look at Bricks and Mortar
Article by Jay Banks
The Canadian housing market over the last 30 years has been subject to a report by REMAX Canada in response to the last decline. Investing in bricks and mortar has been shown to be one of the safest methods to invest over this span of time.
The market for residential real estate throughout Canada still shocked economists and real estate analysts according to the report. In 1981, 1989 and 2008 there were great declines in the property market. The most recent one was the quickest ever, with sales and prices going up for about 6 months now. The real estate market has now pivoted into a leverage market (debt) and quite likely a sellers market as well.
The Canadians’ have a acknowledged belief in houses and condo investments leading to several rationale why this is a long term investment plan. Real estate exhibits financial and material “fortresses” for a lot of Canadian investors. Over the last three decades there has been a considerable increase in the purchase of properties of over 6%. With a 12% growth, Calgary has observed an even bigger increase in property purchase.
Vancouver, Victoria and Toronto had the largest growth in property prices. Although there have been slumps in the real estate market it has remained a good investment. This years biggest growth in the property market comes from the Greater Vancouver area with a massive 14% increase. Purchasers in the first time buyer market are the main competition for this increase with a large portion also going to those that are moving up the property ladder.
Those who have kept their eyes on the resale market for some years shouldn’t be shocked – Vancouver is the best performing market in Canada, in terms of real estate prices appreciation!
In the preceding three decades Canadian property prices have risen a 366.4%, but Vancouver has seen an even greater rise at a whopping 473.7%. Real estate ownership grew from 58.5% to 65.1% during almost the exact period (since 1981). Just contemplate this with inflation for the exact period. There was just over a 150% rise in inflation using the Bank of Canada’s inflation calculator. On an approximation you would see over a 0,000 net return on a real estate investment of 0,000 purchased 30 years ago.
It may come as a revelation but it seems that Canadians were already alert to this. In a very recent Survey by The Angus Reid Omnibus, nearly 80% of participants put property investment over stock investment.
About the Author
Since 1993, Jay Banks has been one of the top Vancouver and Richmond BC realtors.
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