BMO’s first Housing Confidence Report has found that Vancouverites are the only Canadians to expect home prices to decline.
“Given that Vancouver is one of the priciest markets in the world, it’s not surprising that many people expect some correction,” said BMO Capital Markets senior economist Sal Guatieri.
Provincewide, British Columbians expected home price hikes than other Canadians, according to the report, which was released October 23.
B.C. residents polled expect home prices to go up 0.2% in the next year. Alberta residents were the most bullish, expecting a 3% rise in home prices in the next year.
Survey results in the Pollara-conducted report were from online interviews with a random sample of 1,011 Canadian home owners between September 13 and September 21.
