Olga Ouspenski

Two Phases to the Montréal Area Real Estate Market in 2012

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croissanceÎle-des-Sœurs, January 22, 2012 – According to the real estate brokers’ provincial database, there were 40,133 residential sales transactions in the Montréal Metropolitan Area in 2012, a 1 per cent decrease compared to last year, indicated the Québec Federation of Real Estate Boards (QFREB).

After a strong start to the year, real estate activity slowed significantly. The decrease in sales in the third quarter (-8 per cent) and fourth quarter (-15 per cent) of the year completely erased the gains posted in the first (+4 per cent) and second quarter (+10 per cent). “The more restrictive mortgage rules that came into force in July were a turning point and the impact was immediately felt in terms of real estate activity,” said Diane Ménard, Vice-President of the Greater Montréal Real Estate Boards (GMREB) Board of Directors and spokesperson for the Québec Federation of Real Estate Boards (QFREB) for the Montréal area. “The impact was particularly strong on the condominium market, where there are many first-time buyers,” she added.

The 1 per cent increase in single-family home sales in 2012 was not enough to offset the 2 per cent decrease in condominium sales and the 4 per cent drop in plex sales. “We became accustomed to seeing record-setting condominium sales year after year, but in 2012 sales fell for the first time since 1995,” said Paul Cardinal, Manager, Market Analysis, at the QFREB.

By geographic area, the number of transactions in 2012 decreased by 4 per cent on the Island of Montréal and by 2 per cent in Vaudreuil-Soulanges compared to 2011. On the other hand, sales on both the North Shore and South Shore grew by 3 per cent, while sales in Laval remained stable (0 per cent).

Property prices in the Montréal Metropolitan Area increased by 3 per cent for single-family homes, 3 per cent for condominiums and 4 per cent for plexes in 2012. All of these price increases were slightly smaller than those observed in recent years.

The number of properties for sale increased (+10 per cent) for a second consecutive year in the Montréal Metropolitan Area. The largest increase in supply was for condominiums (+19 per cent), to the extent that market conditions for this property category relaxed significantly in recent months. In fact, the condominium market has become balanced across the metropolitan area for the first time since 1999.

Sharp Decrease in Sales in Fourth Quarter

Sales in the Montréal CMA fell by 15 per cent in the fourth quarter of 2012. The 7,501 transactions concluded between October and December represent the lowest fourth quarter sales result since 2008. The decrease in condominium sales reached 20 per cent in the fourth quarter of last year.

SOURCE : http://www.cigm.qc.ca

Vente rapide / Shortsale. VENDU / SOLD

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2-plex

Duplex in a booming neighborhood, with 2 closed bedrooms on 2 levels. many possibility. Large backyard.
Good investment!

Must be sold in January. Short sale! [button link=”http://matrix.centris.ca/Matrix/Public/EmailReport.aspx?ID=3685476059&L=1″ size=”large” style=”info” color=”orange” window=”yes”]LISTING[/button]

Duplex dans un cartier en plein développement, comprenant 2 chambres a coucher fermées sur 2 niveaux. Beaucoup de possibilités. Belle grande cour arrière.
Bon investissement!

Doit être vendu au mois de janvier! [button link=”http://matrix.centris.ca/Matrix/Public/EmailReport.aspx?ID=3685474159&L=2″ size=”large” style=”info” color=”orange” window=”yes”]FICHE DESCRIPTIVE[/button]

 

Condo 134 900$ – visite libre. Dimanche 27 janvier.

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P1030827_ptCondo avec 1 chambre à coucher situé dans un immeuble de qualité, faisant face au fleuve St-Laurent et Parc Marie-Victorin. Il est également situé à distance de marche du métro, restaurants, boutiques et Centre commercial Place Longueuil. Garage intérieur avec un espace de rangement, piscine creusée,salle d’exercice,sauna. CONÇU POUR VOTRE CONFORT!
L’eau chaude est inclus dans les frais de copropriété de 184$/mois.Plafond de 9 pi. Construction avec insonorisation supérieure!

SÉCURITÉ ET VIE FACILE EN PLEIN COEUR DU VIEUX LONGUEUIL!

[button link=”http://matrixreports2.centris.ca/MatrixReportServer/ReportOutput/83577/Detaille_client_avec_album_de_photos1838.PDF” style=”info” color=”silver” window=”yes”]Fiche descriptive[/button]

Condo with 1 bedroom located in a quality building, facing  St. Lawrence River and Parc Marie-Victorin. It is also located within walking distance to the metro, restaurants, boutiques and shopping center Place Longueuil. Indoor garage with a locker, pool, gym and sauna. DESIGNED FOR YOUR COMFORT!
The hot water is included in the condo fees of $ 184 / month. 9 ft ceiling. Construction with superior soundproofing! SAFETY AND EASY LIFE IN THE HEART OF OLD LONGUEUIL!

[button link=”http://matrixreports2.centris.ca/MatrixReportServer/ReportOutput/83577/Client_Detailed_with_Photo_Album7634.PDF” style=”info” color=”silver” window=”yes”]Listing[/button]

 

Cooling house market could undercut retirement plans

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A cooling housing market and reduced demand for large, single-family dwellings could leave some empty nesters short on cash for retirement. (Evan Mitsui/CBC)

Investors hear it all the time: real estate is a sure thing. Or, at least, it’s as close to a sure thing as can be expected; safer than going for a white-knuckle ride on the stock market and seemingly simpler than muddling around with bonds and RRSPs.

Property values, proponents of this mantra like to say, only partly in jest, will keep going up so long as we’re making new people faster than we’re making new land.

This is, experts warn, an over-simplification, and one which creates risk for those who plan to use real estate to bankroll their retirement.

A recent report from the Bank of Montreal says almost one in three Canadians, upon finding they do not have enough money set aside to retire, have sold their homes in order to generate more cash — opting for a smaller house, condominium or rental unit.

Downsizing after one’s children move out makes sense. But financial planners warn that selling off real estate is no replacement for more conventional retirement savings, despite Canada’s healthy housing market.

“Memories are short,” says Peter Drake, vice-president of retirement and economic research at Fidelity Investments in Toronto. “That’s especially true [in real estate] where we’ve had a long, good run in most of Canada. People tend to assume just because something’s been true for two or three years that it’s always been true.”

[button link=”http://www.cbc.ca/news/business/taxseason/story/2012/12/14/f-rrsp-2013-retirement-real-estate.html” style=”info” window=”yes”]Full Article[/button]

Source : http://www.cbc.ca/news