If the anticipated movement to lower the Bank of Canada's key rate has led many buyers to stay on the sidelines in 2024, all expect an intensification of activity in the coming year.
The deputy chief economist of the Canadian Mortgage and Housing Corporation (CMHC), Tania Bourassa-Ochoa, believes the successive rate cuts in 2024 could in fact bring new momentum to the markets.
Tania Bourassa-Ochoa, Deputy Chief Economist at CMHC
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The renewal in 2025 of 1.2 million fixed-rate mortgage loans could also contribute. As 85% of these borrowers took out their mortgage when the Bank of Canada's key rate was equal to or less than 1%, CMHC expects that renewals at higher interest rates should be closely monitored. close.
The president of Proprio Direct, Philip Lecoq, believes that these renewals could force many owners to reconsider their lifestyle. He therefore expects an increase in inventory of 8% and a price increase of around 3%.
Royal LePage, for its part, expects Quebec to experience a 7% price increase in 2025. The 6.5% increase in greater Montreal will surpass those of Toronto (5%) and Vancouver (4%). . Quebec City will stand out, for its part, with anticipated growth of 11%, the strongest in the country, propelled mainly by limited inventory.
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