A study by Landcorp International found that Halifax, Nova Scotia is the next real estate investment hotspot. In the press release dated May 6, 2015, Landcorp announced its finding after combining research, opinions of other professional entities and Newfoundland's historical doubling of real estate values.
What does this mean for Nova Scotia
From a buyer's perspective: You need to buy right now! Why? Interest rates are the lowest they're going to get. Ever. The market is saturated with inventory making it a buyer's market. Values are set to start increasing, predicted September 2015. The perfect storm for excellent opportunity to get in on the property ladder, getting into that bigger house your growing family needs and/or searching for the next best investment choice. Getting moving right now.
From a seller's perspective: If you're currently listed and want to move within the area, think about compromising on your price and don't wait for prices to rise or get the price you think you deserve. Where you save on your lower priced home, value of the home you want to move into may increase at a higher rate. You won't gain anything but time on the market, further stigmatizing your home.
As a seller thinking of selling, start getting ready. If you want to maximize your earning potential, don't go into the marketplace and see what happens then do the things you should have. Competition is fierce so you want to ensure you make your best first impression.
The tides are changing in Nova Scotia. Move now.