Last year, there was a prediction that the prices of properties would go down by a considerable percentage. For this reason there are a lot of people waiting for the property market to benefit from the reduced prices. However, despite the possible slow down studies on the West Vancouver real estate market in 2012 reveal that it is quite viable for potential investors because of the value of land and the size of land in this market.
No matter how you look at it, whenever a buyer asks me what will the market do in the next few years, I also mention that home values in Vancouver have risen since 1980. Yes, there were peaks and valleys, but this has made its property market very lucrative if you know how to play your cards right. However, had you simply bought and held real estate in the previous 20 years, you would have not been disappointed.
The market prospects for strong investment performance should remain strong considering the trend. Such indicators paint a good picture of the property market of the place in question.
West Vancouver condo sales in the January to August period are around 14 percent higher than in the same period last year.Housing sales of the entire country as a whole has however experienced a decline. Increased housing demands will cause upward pressure on prices making investments in real estate desirable.
West Vancouver`s real estate market will be attractive to many investors. This is because Canada`s economic growth is bound to double this year. In addition, the Canadian banking sector has created an enabling environment that ensures security for real estate investments. It is a wise choice to invest in Vancouver`s real estate for this reason.
Most Canadians have faith in the market, so now would be the most appropriate time to buy. Employment levels are expected to rise in the country too. The market will definitely benefit from this emerging economic trend.
More buyers have taken advantage of the low mortgage rates causing inventory levels to fall. Purchasers and vendors are now on the same page for the first time in years. This has caused some pressure on prices benefiting those who expect to earn capital returns on their investment properties. West Vancouver real estate happens to be very promising basing on the above factors.