Housing market is set to remain strong into next year: report
Posted October 31, 2014 6:29 pm.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – A new report from PricewaterhouseCoopers indicates the Vancouver housing market isn’t going to slow down any time soon.
With foreign buyers accounting for 40 percent of luxury home buys in this city, that’s keeping prices high.
Cameron Muir with the BC Real Estate Association says anticipated interest rate hikes could change things down the road.
“We do expect to see over the next, probably year from now, we’ll likely see a modest increase in interest rates, which will have a negative impact on affordability.”
While the report is positive about the prospects of residential property, it’s less bullish about office space, citing an oversupply in that sector of the market.
