Considering 2019 as your year to buy or sell? First-time buyers are expected to dominate the market in 2019. Whether it’s your first home or a second investment property, there are some things to keep in mind.
What to think about…
- We will continue to see an inventory shortage of homes in the most popular areas. This includes both urban and suburban neighbourhoods. Urban areas are with good amenities and excellent public transit and in suburban areas, Kanata and Barrhaven will continue to be very popular.
- We will also continue to see an increase in house prices driven by supply and demand. An increase could be between 3-5%, maybe even more in Barrhaven, Kanata, central or the west-end urban areas.
- The condominium market will continue to improve as young buyers may need to choose a condo as their first home. This is because of freehold prices continuing to increase outside of their affordability. There’s still a great opportunity to purchase older condos as there’s a big disconnect between new construction prices and the price of older buildings.
For a more detailed report created by RE/MAX click here to download.
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