Scotia Economics about Canada
By Elli Davis, January 4, 2011
Photo by Ruben Schade
Scotia Economics has released its new Global Real Estate Trends report! And well, it seems to be quite positive about Canada! Its housing market belonged to the best functioning market during this past year, the report states. On the other hand, it was also one of the most volatile markets in 2010.
The country with the hottest real estate market of 2010 was Australia, followed by France, Sweden, Switzerland and the UK. Canada is the next on the list. As we have seen, but the report points out as well, during winter and spring home sales activity was pretty high (unusually, too) in the country, but in the second half of the year it fell noticeably. That does not necessarily have to be negative, the sales just returned to their normal level.
Regarding the 2011 outlook, the group claims it is "neither overtly optimistic nor pessimistic". Next year, that is 2012, is likely going to be more risky due to continuing increases of interest rates, it stated.