Making a Real Estate Investment

makingarealestateinvestment

makingarealestateinvestment

With so much data on the Internet it can be a challenge to find housing market data when choosing a new place to call home or when making a real estate investment.

There are many tools out there you can use to but the best source is usually a professional realtor who knows the particular community of interest and the current market.  As a mortgage broker I have clients who ask me what I am seeing in the market and the economy.  I also refer to my trusted realtors, financial planners, Dr Sherry Cooper, Economist for Dominion Lending Centres and to those online tools created by reliable sources such as Canada Mortgage and Housing (CMHC) and the Real Estate Boards across Canada.

We have seen quite an active market in 2015 which can provide a challenge when making a real estate investment.  Whether you are buying your first home, upgrading or purchasing a rental property you are making a real estate investment.  Considering the location, the type of property (condo or house), new build or resale, cash on cash return – are all a factor. Utilizing a variety of resources can guide you through the process to make an informed decision.

Canada Mortgage and Housing continues to provide comprehensive information on consumer behaviour and the housing market.  Their Housing Market Information Portal http://www.cmhc-schl.gc.ca/en/hoficlincl/homain/  provides an informative tool which you can use to identify key indicators by province, regional area, city or census market.   I took a snap shot comparison in a portion of the Greater Vancouver area (North Burnaby, Tricities (Coquitlam, Port Coquitlam, Port Moody), New Westminster and Maple Ridge/Pitt Meadows.)  I compared 2006 census average house price with 2014.  The reporting criteria allows you to look at rental markets (vacancy rates, etc), the number of properties sold by year range, the number of properties requiring major repairs and housing starts (absorption rate, etc). A great tool.

My data example below:

Average House Price 2014

 

Average House Price 2006

 

Remember, these tools can be very helpful in narrowing down your search and then fine tuning with your professional realtor to help make your buying decision.