RE/MAX Canada: 5-Year Housing Outlook - Chelsea Hamre - Hamre Real Estate Team Ottawa
Wouldn't we all love a crystal ball looking into ⏩ the next five years?
✅I have the next best thing.
RE/MAX just launched their latest report.
Unlocking the future five-year housing outlook chapter one.
I'm Chelsea Hamre from the Hamre Real Estate Team RE/MAX Affiliates in Ottawa.
This report goes into great detail, but here are three takeaways.
➡️ First 61% of Canadians believe real estate is the best long-term investment and they don't expect this to change over the next five.
Canada has a labour shortage, especially when it comes to trades, which results into the cause and effect of the lack of supply for the demand and growing population here in Canada.
➡️ Secondly, with the impact of higher interest rates, the housing market could be more relaxed than what Canadians have experienced over the last five.
One in three of new home buyers in 2021 were able to purchase due to financial support from their family.
This is doubled compared to what it was five years ago, the elusive historical transfer of wealth from the Boomers to the Millennials and Gen Z is now in full motion.
➡️Lastly, thinking ahead for the next five years, 30% of Canadians say their preferred community would be suburban.
30% want to live in urban environments and 20% say rural.
In summary, this report goes into greater detail regarding the country's housing market in response to interest rate hikes, annual immigration volumes, taxations, and how these factors may impact Canadians for the next time.
For a copy of this report or to chat more about what we think in the next five years in real estate Outlook.
☎️ Please reach out to us directly.
It would be our pleasure to help and discuss.
❤️Take care. We'll talk to you soon.