Canadian Real Estate Prices Register negative price growth in Q1 2018
Canadian real estate prices registered a 6% decline in Q1 2018. This was the first time price growth has turned negative in the first quarter since 2009.
BC Real Estate prices still ticked upwards in Q1, growing 8.49% from Q1 2017. This is basically the floor of prices moving higher. Condos continue to increase as buyers have been pushed down the housing ladder, partly due to the mortgage stress test. However, sales continue to trend downwards, suggesting we will see slower growth moving forward.
Meanwhile, personal loan growth secured against residential real estate ticked upwards in February at it’s fastest pace on record.