Rapidly Rising Canadian House Prices Top Focus of Fortress Real Developments' Market Manuscript
- Eighth edition of bi-annual report studies growth of Canada's residential house prices, comparing similar international markets and historic domestic housing bubbles
- Report evaluates Ontario's Fair Housing Plan, foreign buyer taxes, and rent control
- Manuscript assesses the overall state of the national market, as well as regional markets: Toronto, Ottawa, Winnipeg, Regina, Calgary, Edmonton, and Victoria
TORONTO, Sept. 20, 2017 /CNW/ - Fortress Real Developments (Fortress) has released its latest report on the Canadian real estate market. Authored by Senior Vice-President of Market Research and Analytics Ben Myers, the report includes original research, surveys and observations by Fortress, supplemented by data and quotes from several independent third-party sources, including domestic and international experts. Mr. Myers is an analyst with over 15 years' experience researching real estate markets across North America.
In the last year, Toronto's housing bubble dominated headlines across Canada and even piqued the interest of industry experts across the globe. The government's response to the escalating prices in southwestern Ontario was swift, with the introduction of a 16-point 'Fair Housing Plan' intended to stabilize house prices and rents. The Market Manuscript takes a deeper look into the actions of the Fair Housing Plan and its effects on the real estate market. Among the highlights in this section are:
- A review of Vancouver's Foreign Buyer Tax and how Ontario's Non-Resident Speculation Tax on the Greater Golden Horseshoe (GGH) differs;
- The impact of foreign buyers on major global housing markets;
- The drivers of increased rental demand and the inefficacy of rent control;
- How the Vacant Homes Property Tax, Bank of Canada interest rate increases, and home-sharing services (e.g. Airbnb) affect market supply and prices.
"The skyrocketing residential real estate values in 2016 and early 2017 forced provincial governments to take swift action to curb price growth, but our social media survey shows not all Canadians were in favour of the moves" says Myers. "This report analyzes the Fair Housing Plan, and examines several overlooked factors boosting demand and curbing supply."
The full report is available for download here.
About Fortress Real Developments
Fortress Real Developments Inc. is a Canadian real estate development company that seeks out and analyzes real estate development opportunities in major Canadian markets. The company is focused on quality projects with recognizable alpha in residential low-rise, high-rise, and commercial market segments. For more information visit: http://fortressrealdevelopments.com
Twitter: @FortressRDI, @BenMyers29
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SOURCE Fortress Real Developments
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