According to Scotia Banks latest Global Real Estate Trends report, Canada’s housing market is outperforming in the developed world.
The report notes that the slowdown in global economic activity is putting further pressure on already weak residential property markets across most of the developed world. Home prices have declined in the majority of major markets that were tracked in North America, Europe and Australasia. Although Canada’s housing market has slightly cooled, it has remained a “notable outperformer”.
The report notes that Canada’s housing market stands out in the developed world because of its ‘resilience and longevity’. Out of nine major developed markets tracked by Scotia Bank, only Canada, France and Switzerland registered positive year-over-year price growth.
SOURCE: Scotia Bank, Global Real Estate Trends http://www.scotiacapital.com/English/bns_econ/retrends.pdf
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