Housing Drives Biggest Canada Confidence Gain Since May 2014

Optimism Canadian home prices haven’t hit their peak and the economy has better days ahead drove consumer sentiment to the biggest gain in more than a year, weekly telephone polling shows.

The Bloomberg Nanos Canadian Confidence Index climbed to 53.2 in the week ending Aug. 21, up from 52.2 in the prior survey, the biggest increase since May 2014. Those who said home prices in their neighborhood will increase in the next six months rose to a 34.1 percent share of respondents, up from 31.7 percent, the largest increase in almost a year.

“There was a noticeable one-week gain in terms of the perceptions of real estate,” said Nanos Research Group Chairman Nik Nanos. “This will have to be monitored to see if this is a potential new trend.” Before the gains of the last two weeks, confidence fell to the lowest since April 2013.

 

Housing is a bright spot for the world’s 11th economy in a year where lower oil prices have routed exports and business investment. Prime Minister Stephen Harper made housing part of his bid for re-election on Oct. 19 with a pledge this month to restrict foreign speculators who may be squeezing local families out of the market.

For more information, please visit:

http://www.bloomberg.com/news/articles/2015-08-24/housing-drives-biggest-canada-confidence-gain-since-may-2014 

Bahador Abadi

Bahador Abadi

Real Estate Broker
CENTURY 21 Immo-Plus
Contact Me