Alors que les ventes résidentielles effectuées par les courtiers immobiliers au Québec ont affiché presque autant de baisses que de hausses mensuelles au cours des dernières années, les ventes de propriétés de 500 000 $ ou plus ont maintenu le cap de la croissance. Le graphique 1 présente les variations mensuelles des transactions pour l’ensemble des ventes et pour celles effectuées à des prix inférieurs et supérieurs à 500 000 $ pour la province de Québec. Les ventes de propriétés de moins de 500 000 $ ont affiché des diminutions entre mai 2010 et mai 2011 et les mois d’août à octobre 2012. Tout comme pour l’ensemble des transactions, il s’agit de 17 baisses mensuelles au cours des 42 mois qui se sont écoulés depuis la fin de la récession au printemps 2009. En contrepartie, les ventes de propriétés de plus de 500 000 $ ont presque uniquement affiché des hausses durant la même période, avec seulement trois diminutions lors des mois de juillet 2010 (-2 %), septembre 2010 (-4 %) et octobre 2010 (-2 %).
marché immobilier
TIGHTER MORTGAGE RULES (TD Economics)
TIGHTER MORTGAGE RULES TO COOL DEBT GROWTH, BUT HIGHER RATES ULTIMATELY REQUIRED
• The Department of Finance recently implemented tighter mortgage insurance rules to help take some of steam out of the Canadian housing market and to curb households from taking on too much debt during a continued low interest rate environment.
• Analysis shows that past regulatory tightening led to a significant permanent drop in housing demand. However, while home prices took an immediate hit following the rule changes, they bounced back within two to three quarters and continued to grow faster than underlying economic fundamentals. The dampening effect on household credit growth was more notable and sustained.
• The changes implemented on July 9th may have more of a bite as they will hit a larger segment of the housing market and lead to a larger deterioration in affordability than past rule changes, particularly for first time homebuyers. Overall we expect the new rules to shave 5 percentage points off sales and 3 percentage points off prices over the rest of 2012 and early 2013 and reduce about 1 percentage point off credit growth.
• However, new guidelines will only go part of the way in unwinding the imbalances developed in the Canadian housing market. As long as interest rates remain at their current low levels, households still have a strong incentive to borrow and the overvaluation in the housing market will persist. Ultimately, interest rate increases by the Bank of Canada are needed to ensure sustainable growth in the Canadian housing market.
Source : http://www.td.com/document/PDF/economics/special/dp0912_mortgage_rules.pdf
New mortgage rules hit first-time buyers. Maximum amortization period is cut from 30 years to 25.
Buying a first home or taking out a loan against an existing residence will be more difficult for Canadians under new rules announced Thursday, but Finance Minister Jim Flaherty says it’s for their own good.
For the fourth time in as many years, the finance minister moved to tighten the mortgage and lending landscape – changes that mean up to 5% of Canadians who might be considering buying a new home will likely no longer qualify.
This time Flaherty’s cutting the maximum amortization period for government insured homes to 25 years from the current 30 years, and limiting how much homeowners can borrow on the value of their homes to 80% from 85%.
Those are not the only changes the government is making.
Le ministre des Finances Jim Flaherty resserre les règles hypothécaires
OTTAWA – Il sera plus difficile pour les Canadiens d’acheter une première maison ou d’emprunter contre la valeur de leur propriété, en vertu des nouvelles règles rendues publiques jeudi, mais le ministre fédéral des Finances, Jim Flaherty, a affirmé que c’était pour leur bien.
Pour la quatrième fois en autant d’années, le ministre des Finances a agi afin de resserrer les règles hypothécaires — les modifications apportées faisant en sorte que jusqu’à cinq pour cent des Canadiens susceptibles d’envisager d’acheter un nouveau domicile devront probablement renoncer à leur projet.