{"id":131,"date":"2006-04-08T18:18:04","date_gmt":"2006-04-08T18:18:04","guid":{"rendered":"http:\/\/www.montreal-realestate.ca\/english\/?p=131"},"modified":"2019-02-24T20:15:54","modified_gmt":"2019-02-24T20:15:54","slug":"a-healthy-real-estate-market","status":"publish","type":"post","link":"https:\/\/www.montreal-realestate.ca\/english\/a-healthy-real-estate-market\/","title":{"rendered":"A Healthy Real Estate Market"},"content":{"rendered":"<p>According to a survey conducted on behalf of the <a href=\"http:\/\/www.cigm.qc.ca\/conseil\/Marche.aspx\" target=\"_blank\">Greater Montr\u00e9al Real Estate Board (GMREB) <\/a>at the end of 2003, nearly 213,000 households were planning to buy a home in the next five years.<!--more--><\/p>\n<p>This trend has proven to be correct because during 2004, almost 50,000 properties were sold through the GMREB S.I.A.\u00ae \/MLS\u00ae system, and almost 28,500 during the first six months of 2005.<\/p>\n<p>&#8220;These numbers match those obtained in the first survey we conducted in 2001,&#8221; says Michel Beaus\u00e9jour. &#8220;As a result, 2002 was a record year in terms of resale with close to 50,000 transactions. This leads us to believe that the trend will continue for the next few years.&#8221;<\/p>\n<p><strong>Significant economic and demographic factors<\/strong><\/p>\n<p>A house represents an important investment for a family; not only as a place to live but also because it reflects one&#8217;s needs and aspirations. You buy a house initially to improve your quality of life and in due course, to build a positive financial asset.<\/p>\n<p>Did you know that family worth has increased since 2000? The average price of a property in the Greater Montreal area has increased by 50%, which is a sign of healthy growth. What could explain this situation? According to Michel Beaus\u00e9jour, five major factors are in the mix:<\/p>\n<p><strong>1. Interest Rates: <\/strong>They are currently very low, which means easier access to a property. Good news for borrowers is that in the short-term, there are no indications of a major and significant interest rate increase.<\/p>\n<p><strong>2. Consumer Confidence:<\/strong> The economy has grown by 14% since 2000. The higher the level of confidence, the more consumers invest and buy properties. This has a positive influence on the real estate market.<\/p>\n<p><strong>3. Job Creation:<\/strong> Since 2000, 353,000 jobs have been created, which means that Quebec is in a period of prosperity. When you are employed, you have the means of buying a house.<\/p>\n<p><strong>4. Rental Unit Vacancy Rate:<\/strong> The Greater Montr\u00e9al rental vacancy rate in 2005 stands at 2%. The option left to consider is to buy a house, a plex or a condominium. It is definitely advantageous to trade up from being a renter to a home owner thanks to low interest rates and incentive programs such as the Home Buyers Plan (HBP).<\/p>\n<p><strong>5. The &#8220;Generation Shuffle&#8221;: <\/strong>The baby boomers are reaching retirement age. They are at a stage when they sell the family residence in order to buy a property which better meets their needs. They either buy a condominium or a cottage or both! At the same time, the 25 to 35 year old generation is getting into the real estate market and is actively looking for a property in order to settle down. The effect is an increasing number of transactions and a growing interest of families in the real estate market. <\/p>\n<p><strong>Is it still time to buy?<\/strong><br \/>\n&#8220;It is still the time, if you make a well-planned purchase,&#8221; says the GMREB spokesman. He reminds buyers that they must first determine which criteria matter to them, which are negotiable and non-negotiable, in keeping with their budget and with a long-term perspective.<br \/>\n<!-- BEGIN: Constant Contact HTML for Send Page to Friend  --><br \/>\n<a href=\"http:\/\/ui.constantcontact.com\/sa\/fp.jsp?plat=i&amp;p=f&amp;m=jix8ysbab\"><u>Send Page To a Friend<\/u><\/a><br \/>\n<!-- END: Constant Contact HTML for Send Page to Friend  --><\/p>\n<p>Would you like me to work for you? Call me <a href=\"tel:514-402-8444\">514-402-8444<\/a> or <a href=\"\u201dmailto:jenn@montreal-realestate.ca\u201d\"> <u>email me <\/u><\/a><\/p>\n<p><!--adsense#none--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to a survey conducted on behalf of the Greater Montr\u00e9al Real Estate Board (GMREB) at the end of 2003, nearly 213,000 households were planning to buy a home in the next five years.<\/p>\n","protected":false},"author":2,"featured_media":931,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","sfsi_plus_gutenberg_text_before_share":"","sfsi_plus_gutenberg_show_text_before_share":"","sfsi_plus_gutenberg_icon_type":"","sfsi_plus_gutenberg_icon_alignemt":"","sfsi_plus_gutenburg_max_per_row":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[9,6],"tags":[],"class_list":["post-131","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-updates","category-real-estate-investing"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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