Canadian homebuyers who are looking to buy a house next year should consider Calgary, according to the latest outlook by RE/MAX.

The city is expected to record no growth in sales price expectation next year, making it a buyer's market, said the report.This would be due to Calgary's economy and high unemployment rate.

"Housing affordability isn't a concern due to low condo prices allowing buyers to easily enter the market.Despite the high unemployment rate, the city's population is increasing due to residents from other parts of Alberta moving to the city," RE/MAX said.

Three neighbourhoods are expected to be the hottest markets next year due to their affordability:Coventry Hills, Evergreen, and Northeast Calgary.

The city's overall younger population compared to the rest of Canada could indicate a stronger demand from first-timers entering into the market.

Condominiums and two-storey detached homes are expected to be the most popular property types next year.

Are you looking to invest in property?If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save

Canadian homebuyers who are looking to buy a house next year should consider Calgary, according to the latest outlook by RE/MAX.

The city is expected to record no growth in sales price expectation next year, making it a buyer's market, said the report.This would be due to Calgary's economy and high unemployment rate.

"Housing affordability isn't a concern due to low condo prices allowing buyers to easily enter the market.Despite the high unemployment rate, the city's population is increasing due to residents from other parts of Alberta moving to the city," RE/MAX said.

Three neighbourhoods are expected to be the hottest markets next year due to their affordability:Coventry Hills, Evergreen, and Northeast Calgary.

The city's overall younger population compared to the rest of Canada could indicate a stronger demand from first-timers entering into the market.

Condominiums and two-storey detached homes are expected to be the most popular property types next year.

Are you looking to invest in property?If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage.Click here to get help choosing the best mortgage rate[1]

References

  1. ^ Click here to get help choosing the best mortgage rate (www.canadianrealestatemagazine.ca)

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