British Columbians show high rate of confidence in homeownership
VANCOUVER, April 5, 2012 — British Columbians are narrowly divided when asked whether it makes more sense to buy a house now (52 per cent) or wait until next year(48 per cent), given current housing prices and economic conditions, according to the 19th Annual RBC Homeownership Poll.
While an overwhelming majority (85 per cent) say real estate is a good investment (compared to 88 per cent nationally), two-thirds of prospective homebuyers
in B.C. (66 per cent) say they are not likely to buy a home within the next two years, well below the national average (73 per cent).
“B.C.’s housing market has experienced some of the strongest price increases in Canada over the past few years, so it makes sense that buyers are taking their time to decide if they should buy now or wait,” said Inde Sumal, regional vice-president, Residential Mortgages, RBC. “But confidence in homeownership is very high in the province, demonstrating that residents continue to believe in the long-term value and
personal pride in owning your own home.”
Forty-five per cent) say the current housing market is a buyer’s market, in which buyers have the advantage because the number of houses available exceeds the number of buyers, which is well above the national average of 38 per cent. One-third of respondents (33 per cent) describe the housing market as balanced, slightly below the national average (36 per cent). One-in-five British Columbians (22 per cent) believe the current housing market favoured sellers (national: 27 per cent).
“When making the decision to purchase a home, seeking the advice of a qualified professional can help you decide on what type of mortgage, home and savings plan is right to meet your individual needs and ownership goals,” added Sumal.
British Columbians are looking to buy the following types of homes, according to the
survey:
- Detached house: 60 per cent (national average: 66 per cent)
- Condo/loft: 18 per cent (national average: 11 per cent)
- Semi-detached house: eight per cent (national average: 10 per cent)
- Townhouse: seven per cent (national average: eight per cent)
For more information http://www.rbc.com/newsroom/pdf/0405-12-homeownership-bc.pdf
www.christinebuemann.com
VANCOUVER, April 5, 2012 — British Columbians are narrowly divided when asked whether it makes more sense to buy a house now (52 per cent) or wait until next year(48 per cent), given current housing prices and economic conditions, according to the 19th Annual RBC Homeownership Poll.
While an overwhelming majority (85 per cent) say real estate is a good investment (compared to 88 per cent nationally), two-thirds of prospective homebuyers
in B.C. (66 per cent) say they are not likely to buy a home within the next two years, well below the national average (73 per cent).
“B.C.’s housing market has experienced some of the strongest price increases in Canada over the past few years, so it makes sense that buyers are taking their time to decide if they should buy now or wait,” said Inde Sumal, regional vice-president, Residential Mortgages, RBC. “But confidence in homeownership is very high in the province, demonstrating that residents continue to believe in the long-term value and
personal pride in owning your own home.”
Forty-five per cent) say the current housing market is a buyer’s market, in which buyers have the advantage because the number of houses available exceeds the number of buyers, which is well above the national average of 38 per cent. One-third of respondents (33 per cent) describe the housing market as balanced, slightly below the national average (36 per cent). One-in-five British Columbians (22 per cent) believe the current housing market favoured sellers (national: 27 per cent).
“When making the decision to purchase a home, seeking the advice of a qualified professional can help you decide on what type of mortgage, home and savings plan is right to meet your individual needs and ownership goals,” added Sumal.
British Columbians are looking to buy the following types of homes, according to the
survey:
- Detached house: 60 per cent (national average: 66 per cent)
- Condo/loft: 18 per cent (national average: 11 per cent)
- Semi-detached house: eight per cent (national average: 10 per cent)
- Townhouse: seven per cent (national average: eight per cent)
For more information http://www.rbc.com/newsroom/pdf/0405-12-homeownership-bc.pdf
www.christinebuemann.com
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