A buyers market as property sales slows down in Vancouver: The Globe and Mail
Canadian companies look to boost sales amid ‘hard landing’ for buyers
VANCOUVER (NEWS 1130) – Vancouver-based companies looking to raise capital and create jobs, as well as local jobs, could benefit from the city’s slowing housing market.
According to the latest provincial census, housing values in Vancouver were down 5.8 per cent in 2014 compared to the previous year.
The region was also home to the worst ratio of net new detached homes sold (down 9.2 per cent to just over 15,000 units) in the country, with detached house sales down 2.1 per cent, while those sales in town (just over 7,000) were down 13.9 per cent.
READ MORE: Vancouver home buyers could be hit hard by falling home values
It’s the highest rate of home price 바카라drops in decades in Vancouver, which was already experiencing the worst home price correction in recent memory.
The slowdown in sales means property developers looking to raise capital may look elsewhere and Vanc더킹카지노ouver, one of Canada’s fastest-growing cities, may become even less desirable for home buyers, argues Michael Meijer.
“If (new investment) were to come in, Vancouver is an attractive target. You could be seeing these things in other markets as well.”
It’s been more than five years since Meijer first began working as an associate at LSE’s International Relations Department, working on global trade, foreign policy and national security issues.
In addition to a trip to India, which helped him better understand the nuances of the market in other capitals, Meijer said the international role of an investment banker in Vancouver has become increasingly important.
“That puts all of us on the same page here in Vancouver,” Meijer explained. “We have to be on the same page.
“You can’t buy real estate in a city with very few international investors.”
In addition to the current housing market slowdown, Canada’s overall employment picture has remained weak for the past few years. It’s up to developers to find the money to build, but it’s not easy to do so, said Vancouver real estate analyst Tim Jorgensen.
“There’s more demand than supply from developers,” he told The Globe and Mail last week.
“I’m not sure they’ve had enough time to get star우리카지노ted and put together something on the scale they’ve been able to,