What Are the Financial Experts Forecasting for Canada in 2012?
Before we consider other sources, let's look at what financial experts are predicting for the Canadian market and what that could mean for the real estate market. For the beginning of 2012, the Bank of Canada anticipates 'weaker export demands, lower consumer confidence and therefore a slightly slower economic growth due to the financial conditions influenced by the impact of the European and US markets'.On a positive note, the Bank of Canada anticipates it will be 'short lived'. Experts forecast 'increased consumer spending and business fixed investments to grow leading to a reacceleration of the global economy in the second half of the year'. This in turn, will bring with it '25 basis points increase for 2012'.
This information has been reference from the following website: http://www.rbc.com/economics/market/pdf/fmm.pdf
CM Staging Solutions Predictions for Real Estate in Toronto for 2012
Whether you follow the Bank of Canada's forecasts or the Chinese Calendar and the good fortune predictions that come with the Year of the Dragon, the question we want answers to is.... what is in store for real estate in 2012?
As many of you know, a decrease in consumer confidence can leave buyers slightly more hesitant about making big ticket purchases such as homes. In Toronto that translates into staging your listings is a definite must to incentifying buyers to close those pending real estate purchases.
As we've also seen in the past specifically in the Toronto Market, whenever there is a rumbling about interest rate hikes, this can further incentify buyers to capitalize on those lower interest rates which can lead to rush purchases and higher housing prices. But don't get too confident, even when markets are in a buying frenzy, homes that don't show well will still sit on the market so you should still take the necessary steps that come with home staging to get your home ready for sale.
Maybe its the buzz of interest rate increases or the ability to take advantage of still slightly elevated housing prices or the Year of the Dragon, we predict sellers will be getting their properties ready to be on the market sooner than later.
Something to also consider and certainly not to ignore is the Toronto condominium market. As builders in Toronto have started lowering prices even up to and including $60,000 in an effort to move more sedentary units, this in conjunction with other condominiums scheduled to come to market this year, will prove to bring an even greater need to be competitive with your condominium listing in order to get the most for your money and therefore there will be an even greater need for sellers to stage their condos.
The suspected decrease in condo prices opens up a growing market for investors, but with the increased number of investors getting into the game will also come the need for investors to be more competitive with their rentals. Landlords will benefit by staging to showcase the full potential of their rental suites and perhaps rent them as fully furnished units in an effort to not only rent but to rent for more money.
Please note, our predictions are merely fun predictions for 2012, we encourage you to comment and add your predictions for 2012 and we wish everyone all the best for the new year.
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