Welcome to the Guardian Financing January 2019 monthly newsletter. This month’s issue is on the trends and predictions for the Montreal real estate market.
The Montreal real estate market is currently receiving a lot of attention, given that it is one of the few markets that are yet to witness significant slowing. As we turn the pages to a new year, market participants are anxiously waiting to see which direction this resilient market is going to take.
And since there is no way to determine that with certainty, we can only guess based on data that will establish the most likely behavior of the market. Here is a brief look at some of the trends and predictions of the Montreal real estate market, expected in 2019:
The Canadian Real Estate Association forecasts that Montreal will witness a sharp increase in growth within the condo and rental apartment segments. The forecast also suggests that sales will continue to go north until 2020, and this will offer an advantage to sellers.
Despite the heavy competition being witnessed in this particular market, the average price of homes is also expected to be higher than the annual average, which currently stands at 2.5%.
According to data by QFREB residential real estate forecast, the Montreal market is likely to outdo the rest of the Quebec market throughout 2019. This is mainly attributed to stronger growth in the region’s population, as well as an increase in net migration rates. It is expected that in 2019, the number of residential real estate transactions in Montreal could reach a new high of 47, 600.
According to the data availed by Centris for 2019, a lot of activity is expected in the following Montreal neighborhoods:
Other areas include Cote-Des-Neiges, Hochelaga-Maisonneuve, Pointe-St-Charles, Villeray, Lachine, and Laval.
Guardian Financing is a direct private mortgage lender. We serve the greater Montreal area providing short term residential mortgage loans, typically ranging from $50,000 to $3,000,000. Contact us today to discuss your file at 514-700-3121 or by email at files@guardianfinancing.ca
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