Major Canadian real estate brokerage predicts prices to rise by up to 20%


It doesn’t matter if your city has just seen massive price increases; they could see another year of excessive growth, damn interest rates. It is essentially the taking of Re / max, one of the largest real estate brokerage firms in Canada. The company predicts massive growth across the country next year, with markets rising by up to 20% over the next 12 months. Cities like Toronto are even expected to see house prices rise more than they have with falling interest rates.

Muskoka Real Estate Expected to Experience the Strongest Growth

They expect the strongest growth in the smaller markets which have just seen a massive increase. Muskoka is expected to see average home prices rise to $ 749,357 in 2022, up 20% from this year. This is in addition to the 30% growth Muskoka has experienced over the past year. The region is now tied for first place with Moncton.

Real Estate Price Forecast in Canada 2022

The annual percentage change in the average selling price of a home, along with the Remax forecast for 2022.

Source: Re / max; Better accommodation.

Moncton Real Estate Tied for Fastest Growth Rate in Their Forecast

However, average home prices in Moncton are much cheaper. The brokerage is forecasting an average home price of $ 332,735 in 2022, up 20% from this year. Again, this follows the 27% annual growth this year. Imagine living in Moncton and not seeing your income increase by more than 50% in two years? Because that’s what you would need to mitigate the rising cost of ownership.

Barrie Real Estate was the biggest winner last year, and is expected to skyrocket next year

The biggest winners from last year are also expected to see a bit more excessive growth this year. Barrie real estate was the biggest gainer, posting a 53% gain in the past year. The brokerage is forecasting an average sale price of $ 88,500 next year, another 15% increase on top of last year’s record gain.

Oakville Real Estate expected to be the most expensive market

Oakville, a suburb of Toronto, is expected to remain the most expensive real estate market in Canada. The average selling price is expected to reach $ 1,696,646 in 2022, up 7.50% from this year. This is in addition to the 21% growth seen in 2021. It is currently the most expensive market, but there should be a gap of almost $ 300,000 between the second place, which is York Region.

Real Estate Price Forecast in Canada 2022

The expected dollar value of the average selling price of a home in 2022.

Source: Re / max; Better accommodation.

Vancouver real estate growth expected to fall, but remain elevated

Metro Vancouver real estate will follow this year with big gains. The city is expected to reach an average selling price of $ 1,294,140 in October, up 5.50% from this year. It follows the 13.0% gain achieved this year. Vancouver’s forecast is relatively modest compared to other areas, but it’s also already a much more expensive location.

Toronto real estate growth set to accelerate next year

After underperforming this year, Toronto real estate should post even bigger gains next year. The average selling price is expected to reach $ 1,160,491 in October, up 10% from this year. Over the past year, the average selling price has increased by 7%, a substantial amount but not as much as in other cities.

The Re / max real estate forecast is a bit ambitious, especially given the expected interest rate environment. Lower interest rates have boosted growth, but they are expected to rise next year. However, rising rates only appear to slow growth slightly in this forecast, with fast-growing regions seen as continuing to grow at a breakneck pace.


Comments are closed.