Crystal Ball Predictions: Tour Tuesday | What’s in Store for 2021?

Crystal Ball Predictions: What’s in Store for 2021?
It’s our final video for 2020! Kevin*, Andrew, and Haden share their thoughts on supply/demand, single-family dwellings, and what 2021 may have in store for those looking to buy or sell in the condo market!
*Personal Real Estate Corporation

Crystal Ball Predictions | What’s in Store for 2021?

 

Kevin Jones* | Supply/demand; Macroeconomics for Real Estate 

Is the supply for housing in Victoria keeping up with the demand? What can we expect from a market experiencing high demand and record-low interest rates? 

Kevin* shares his thoughts on the buying frenzy that was 2020, and what the continued demand for housing means for anyone interested in buying and selling in 2021. 

*Personal Real Estate Corporation

 

Andrew Hrushowy | Single-family houses

Victoria is a new city with plenty of historical suburban growth and several development projects currently in the works. Efforts to provide housing for Victorians is encouraging, but the demand is not slowing down. What does this mean for affordability in the long-run? And what is ‘re-development’? 

Andrew gets to the heart of one of the greatest concerns facing the housing market in our current times and outlines the challenges and opportunities within Victoria that come with the creation of new stock. 

 

Haden Campbell | Strata 

So, what exactly happened regarding condo sales in Victoria in 2020? 

Haden gives us a look at the numbers from the 2020 year and the previous years, illustrating the results of brand new work-from-home policies suddenly meant an instant need for extra space in the household.

 

Helpful Links:

Bank of Canada opens door to another rate cut – but not one below zero
Financial Post; December 10, 2020 | Article Here

 

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