The economic outlook for Nova Scotia, in particular, Halifax is bright. Viewed by Chief Economist for Laurentian Bank, Sebastien Lavoie, as one of the most optomistic economies in Canada right now.
Factors such as business confidence, lower unemployment, population increase and stronger real estate sales all point to an strengthened economy for Halifax. Which in turn, makes for a safer environment for investing in real estate.
Currently, the rental vacancy rate is at an all time low of 1.5%¹ and the Nova Scotia population increase of 1% in 2018 is the best since mid-80s². The span between real estate sales and population inclined dramatically, demonstrating a strong demand for rental properties. An ideal environment for real estate investing and there's no better time than right now to buy. All things being equal, financial forcasts indicate two interest rate increases in 2019 and by the end of 2020, will increase a full percentage.
- Canada Mortgage and Housing Corporation/Haver Analytics
- Statistics Canada
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