Increase In House Prices In Canada
House prices all over Canada are once again on the rise.
The biggest increases in 2020 are expected to be in Ontario, Quebec and Prince Edward Island with respectively increases of 6.9%, 5% and 4.9%.
These numbers are quite special and overall a lot higher than elsewhere in the world.
This might seem as a disadvantage when you’re trying to buy a house. However, in the long run you will only benefit greatly from it when your house is worth more year after year.
It also means that it’s a great time for investors to think about real estate. Imagine the possibilities if the growth in value of houses nationwide stays at this level. It wouldn’t take great mathematical skills to figure out that it’s an investment that will greatly pay off in the future.
However, there’s always risk at play. House prices might keep rising, but there’s always a change that they fall periodically. Definitely when the increases are suddenly this high and there’s a worldwide crisis going on.
So whether you are looking to buy or sell a house for yourself or just to invest, always seek the right advice from a financial advisor.