Positive Outlook for Real Estate Industry

Industry and market research company IBISWorld says the Canadian real estate sales and brokerage industry will perform strongly over the five years to 2019, but it will “continue to face competition from lower-priced online real estate brokerage and listing websites that will slowly erode average industry commissions and profit margins.”

“Compared with the significant volatility experienced in real estate markets worldwide over the past five years, the Canadian real estate market remained stable due to strong underlying fundamentals. Appreciating real estate values boosted industry commissions’ revenue over the past five years as demand for residential and commercial real estate rose and pushed up prices, albeit at a slower pace than the previous five-year period, due to the effects of the recession,” says IBISWorld industry analyst Stephen Morea. Revenue for the real estate sales and brokerage industry is expected to increase at a three-per-cent average annual rate over the five years to 2014 to about $12.1 billion.”

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Harvir Sandhu

Harvir Sandhu

Real Estate Broker
CENTURY 21 Coastal Realty Ltd.
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