USA National Housing Report

USA National Housing Report May 2016

The Canadian market is influenced by the the currency and real estate in the United States. It appears that as a nation, the 2016 home-buying season has just started. That is quite different than our local market which saw an early start to the home-buying season. Find out from the USA National Housing Report for May 2016.

USA National Housing Report

RE/MAX corporate puts out a monthly report summarizing the National market activity. Read the details on what’s happening to our friends in other markets across the Boarder.

April sales saw a 7.5% increase over March and a 3.2% rise over April last year, which nearly matches the average year-over-year sales increase of 4.3% so far in 2016. The Median Sales Price in April was $215,000, which was 5.4% higher than one year ago and 7.5% above the median price in March. The inventory of homes for sale remains very tight in many markets across the country, with the April inventory 15.2% lower than April 2015. At the rate of home sales in April, the national Months Supply of Inventory was 3.2, down from 3.7 in March.

“Even though inventory remained tight, April still saw a demand for homes at a level higher than one year ago. Homebuyers realize that interest rates are historically low and mortgage accessibility appears to be improving along with the overall economy. Price increases make it possible for homeowners to feel comfortable selling, but they aren’t at a level that keeps first-time buyers out of the market,” said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder.

“The steady annual increase in home values shows sustainable growth and an improving economy. We always look for gains to be similar to inflationary growth while avoiding the hikes that could lead to bubble fears. We’re currently in that range, which should come as a more comforting sign to many homeowners,” added Bob Walters, Quicken Loans, Chief Economist.

Closed Transactions – Year-over-year change
In the 53 metro areas surveyed in April, the average number of home sales was 3.2% higher than one year ago, and was 7.5% higher than the previous month. The sequential monthly increase was in line with the 6.8% average seen over the last seven years. Like February and March, home sales continued to be strong the Northeast. Across the nation in April, 34 of the 53 metro areas surveyed reported home sales higher than one year ago, with 16 experiencing double-digit increases, including Hartford, CT +27.4%, Providence, RI +27.1%, Augusta, ME +23.4%, Manchester, NH +22.3%, Boston, MA +21.1% and Tulsa, OK +16.2%.

Median Sales Price – Median of 53 metro median prices
The Median Sales Price in April was $215,000, up 7.5% from March, and up 5.4% from the Median Sales Price in April 2015. April is the 51st consecutive month without a drop in price from the previous year. In 2015, the monthly average of year-over-year price increases was 7.6%. The 5.4% rise in April may mark a moderation in price increases, which would have a positive impact on home affordability. Among the 53 metro areas surveyed in April, only two had a year-over-year drop in prices, Tulsa, OK -2.7% and Trenton, NJ -0.4%. The remaining 51 metros reported higher prices than last year, with 11 rising by double-digit percentages, including Providence, RI +17.5%, Portland, OR +15.5%, Boise, ID +13.5%, Fargo, ND +12.5%, Nashville, TN +11.7% and Burlington, VT +11.4%.

Days on Market – Average of 53 metro areas
The average Days on Market for all homes sold in April was 64, down 7 days from the average of 71 in both March and April 2015. April becomes the 37th consecutive month with a Days on Market average of 80 or less. In the three markets with the lowest inventory supply – San Francisco, Denver and Seattle – Days on Market was 23, 27 and 32 respectively. The highest Days on Market averages were seen in Augusta, ME 159, Des Moines, IA 110 and Burlington, VT 108. Days on Market is the number of days between when a home is first listed in an MLS and a sales contract is signed.

Month’s Supply of Inventory – Average of 53 metro areas
The number of homes for sale in April was just 0.2% lower than in March, but 15.2% lower than in April 2015. The average loss of inventory on a year-over-year basis in 2015 was 12.2%. While inventory remains much lower than last year, there are signs of stabilization month-to-month. Based on the rate of home sales in April, the Month’s Supply of Inventory was 3.2, which is nearly identical to last month and last year, 3.7 and 3.6 respectively. A 6.0 month’s supply indicates a market balanced equally between buyers and sellers. The number of metros with a month’s supply below 2 has jumped significantly. While January and February saw 5 and 6 metros below 2, March and April both reported 11 metros with a supply less than 2 months. Those with the lowest Month’s Supply are Denver, CO 1.1, Seattle, WA 1.1, San Francisco, CA 1.2, Omaha, NE 1.2, Portland, OR 1.3 and Dallas-Ft. Worth, TX 1.6.

Contact
For specific data in this report or to request an interview, please contact (303) 796-3405 or [email protected].

About the RE/MAX Network: RE/MAX was founded in 1973 with over 100,000 agents provide RE/MAX a global reach of nearly 100 countries. Nobody sells more real estate than RE/MAX, when measured by residential transaction sides.

RE/MAX, LLC, one of the world’s leading franchisors of real estate brokerage services, is a wholly-owned subsidiary of RMCO, LLC, which is controlled and managed by RE/MAX Holdings, Inc. (NYSE:RMAX).

For more information about RE/MAX, to search home listings or find an agent in your community, please visit www.remax.com. For the latest news about RE/MAX, please visit www.remax.com/newsroom.

Description
The RE/MAX National Housing Report is distributed each month on or about the 15th. The first Report was distributed in August 2008. The Report is based on MLS data in approximately 53 metropolitan areas, includes all residential property types, and is not annualized. For maximum representation, many of the largest metro areas in the country are represented, and an attempt is made to include at least one metro from each state. Metro area definitions include the specific counties established by the U.S. Government’s Office of Management and Budget, with some exceptions.

At RE/MAX Corporate as well as RE/MAX of Nanaimo, we have a passion for our communities in which its agents live and work. RE/MAX USA is proud to have raised more than $150 million for Children’s Miracle Network Hospitals® and other charities. 

For more information about our local market call us at (250) 751-1223, come and visit us at 1-5140 Metral Drive or check out listings on our website.

Real Estate Market in Nanaimo

Market Update: Very Busy Real Estate Market in Nanaimo

We are in a very robust Real Estate Market, with high market activity that hasn’t been seen in over a decade. Our local market is different than what you see on the news in Vancouver or Toronto, but nonetheless, it is a VERY busy real estate market in Nanaimo for those buying and selling homes.

Buying demand

We can never be totally certain of what is driving demand among buyers. The number of homes listed in April is up 6% over the same month last year, but with the number of units reported sold up 27%, buyers are feeling frantic. The average sell price per unit last month was also up 13% over April of 2015.

A busy real estate market in Nanaimo

The real estate market comes down to supply and demand. There is a limited supply of new and existing homes for sale in the Nanaimo market, and there are more Buyers than there are homes available. Because of this, prices and sales go up. As a Buyer right now, you need to be on top of your market segment, watching the new listings and communicating with your REALTOR®. Your REALTOR® is going to give you the knowledge needed to be involved in “Multiple Offer” scenarios, so do your research and follow their advice. With the help of your REALTOR®, you could come out on top. Stay focused and know what you want.

Tips for sellers

As a Seller, you should be strategizing the best position for you in this busy market. It’s great to sell, and possibly for even more money than you originally thought, but there are still some challenges.  Do you have a new home to go to?  You are stuck with the same challenge as any buyer, competing for the home you want.  Have you taken your REALTORS® advice and priced your home well?  Houses that are overpriced will continue to sit on the market even in the best markets.  You have to be priced well to succeed. 

Thinking about buying an investment property?

RE/MAX of Nanaimo Property Management department has rented all of our inventory! Do you have a suite, condo or home that you would like to be rented?

We’ve rented every one of our rental properties and we need more! We have tenants looking for the right home to rent and we have nothing for them to rent. Put us to work for you and get your rental investment rented! Call us today at (250) 751-1223.

Have a chat with one of the market’s best REALTORS® at Nanaimo’s Best Real Estate Office, RE/MAX of Nanaimo at (250) 751-1223 or find more stats on VIREB.

Ride-for-the-Kids

Calling All Cyclists! RE/MAX Ride For The Kids

Calling all cyclists!

Are you an novice or avid cyclist looking for a cause to support or want to be part of raising funds for sick kids? June 18, 2016 ride with us for the kids!

Ride for the kids

Join us on a 100 km free Charity Ride from RE/MAX of Nanaimo through Nanaimo, Nanaimo River, Cedar & Yellow Point benefiting the kids at BC CHildren’s Hospital. Please note: we will have a staggered start, this is not a race.

Brian Godfrey has recently retired in order to go on another cycling adventure. In 2013, Brian and his friend Bob, completed their first fundraising cycling adventure, which helped raise $25,000 for BC Children’s Hospital with the help of fellow realtors at RE/MAX of Nanaimo. He hopes to raise the same fundraising goal this year. Donate here!

Come solo or register a team! 

Real Estate Market Update

Real Estate Buying Demand Outpaces Nanaimo Supply

The real estate buying demand has outpaced availability in most areas. VIREB covers current market trends on central Vancouver Island this March. Currently it’s a seller’s market, where top price and a fast sale can go hand-in-hand.

Real estate buying demand increases

In March 2016 520 single-family homes were sold, compared to the 420 homes sold last March, which resulted in an increase of 24 per cent. Month over month, sales were up by 29 percent from the 406 sales processed in February 2016. Last month’s active listings totalled 1,599, down 26 percent from the 2,167 reported in March 2015.

It turns out that British Columbia’s economy is the strongest in Canada, according to BCREA Economist Brendon Ogmundson. The GDP growth is expected to be around 3 percent this year. The construction and retail sales industries are key economic drivers fuelling this robust real estate market and but there are also signs of it slowing down.

Single-family homes are still the most popular property type, although changing demographics could shift that trend over the next decade.

Demand has outpaced availability

It has been several years since REALTORS® have been this busy!  The challenge now – low inventory.

“Our REALTORS® are scrambling to find homes for buyers, which is resulting in multiple offers, particularly on single-family homes. Inventory is low. If you’ve been thinking of selling, it’s a perfect time to put your home on the market,”” says Justus Edmundson, Managing Broker at RE/MAX of Nanaimo.

Nanaimo’s market is still very affordable in comparison to Victoria and the lower mainland communities.

View the March 2016 benchmark prices of single-family homes in the following areas:

  • Nanaimo’s benchmark price rose 5.95 percent to $367,000
  • Parksville-Qualicum area saw its benchmark price rise by 8.66 percent to $391,400
  • Port Alberni was $193,900, an increase of 3.36 percent over March 2015.
  • Comox Valley, the benchmark price was $354,100, up 9.39 percent from 2015
  • Campbell River area was $281,800, a 2.61 percent increase over 2015
  • Duncan reported a benchmark price of $310,700, an increase of 8.23 percent over the same month in 2015 

Source: VIREB

For more information about buying or selling your house in this hot market, contact one of our professional and knowledgeable REALTORS®. Call (250) 751-1223 today!

JOB POSTING: Real Estate Conveyancer

JOB POSTING: Real Estate Conveyancer

RE/MAX of Nanaimo is currently looking for a permanent, full time Real Estate Conveyancer. The individual will be responsible for maintaining and managing all conveyance duties in a real estate office.

Real Estate Conveyancer duties

The candidate must be a motivated self-starter able to work with little supervision and within a team environment.  Organized, strong attention to detail with efficient follow-up skills.  Must also possess a keen sense of customer service, ability to multi-task and handle a fast-paced work environment.  Real estate experience is preferred.

Requirements

  • Minimum 2 year experience in an office administration role
  • Motivated person, who can multi-task
  • Ability to problem-solve, excellent attention to detail and highly-organized
  • Professional standards with impeccable phone mannerisms
  • Experience with a multi-line phone system

Skills & programs:

  • Lone Wolf
  • Dropbox
  • Microsoft Office
  • PC

If you know someone who would enjoy working for a thriving Real Estate brokerage here in Nanaimo please share this post with them. Your share on social media is the greatest compliment to us!

All enquiries, please reply to [email protected]

About RE/MAX of Nanaimo

Here at RE/MAX of Nanaimo, we have established an atmosphere of excellence, productivity and service. At RE/MAX of Nanaimo we value being proactive and responsive to the needs of our community and as such, RE/MAX of Nanaimo is recognized as one of the finest real estate companies on Vancouver Island.

Company highlights

  • July 2007: RE/MAX of Nanaimo was purchased by the current owners: Charlie Parker, Mike Heinrich, and Graeme Parker.
  • 2007 – 2016: Vancouver Island Real Estate Board Sales Participation.
  • 2012 – 2013: RE/MAX of Nanaimo completed a full renovation to create a modern and updated look. This included an expanded office space to welcome new REALTORS® to RE/MAX of Nanaimo.
  • 2014: A RE/MAX University training center was established in the office complex, offering full education and training opportunities for the REALTORS®.
  • 2016: RE/MAX of Nanaimo won RE/MAX Brokerage of the Year in their region, Western Canada, and Brokerage of the Year for RE/MAX Canada

 

Bank of Canada Interest Rate Announcement - March 9, 2016

Bank of Canada Interest Rate Announcement – March 9, 2016

Interest rates are an important factor when buying or selling Real Estate. Below is an announcement from the Bank of Canada regarding interest rates.

Bank of Canada Interest Rate Announcement – March 9, 2016

The Bank of Canada announced this morning that it is maintaining its overnight rate at 0.5 per cent. In the press release accompanying the decision, the Bank noted that inflation is evolving as anticipated but that a weak economy will continue to dampen growth in consumer prices. Overall, the Bank judges that risks in the economy are roughly balanced, though financial vulnerabilities have increased due to falling commodity prices.

With inflation trending close to target while the economy struggles, the Bank of Canada, whose mandate is to target 2 per cent inflation over the medium run, has to strike a fairly delicate balance. Low oil prices continue to vex the Canadian economy spurring job losses in energy producing provinces while also putting downward pressure on the exchange rate, which makes the cost of imported goods from heavy machinery to fresh produce more expensive.  We expect that weak economic growth will continue in the first quarter of 2016, but the possibility of an effective fiscal stimulus, a stronger US economy and a stabilization of oil prices points to stronger growth ahead.  The door remains open for the Bank of Canada to reduce rates once more in 2016, though our expectation is that the Bank will remain on the sidelines throughout the year. 
For more information, please contact:

– Cameron Muir, Chief Economist – (604) 742-2780 or Email: [email protected]

If you’re looking to buy a home or sell your current home, contact us at (250) 751-1223. We have over 100 REALTORS® that may have the perfect home or buyer for you!

How To Move to Canada

How to Move to Canada

Canada has always been a fantastic place to live. The economy is steady, the people are friendly, the environment supports a healthy lifestyle, and the affordability in most of Canada is unparalleled to many other places in the world. Recently the interest to move to Canada has spiked. Is it the Canadian dollar, the media attention at the World Economic Forum, Canada’s new leadership, or are people looking to escape the upcoming presidential election in the United States?

Move to Canada Searches

Just this week inquires and searches on how to move to Canada spiked 1500 per cent. A combination of the low Canadian dollar and the drama of the U.S. presidential election campaign may have some of our southern neighbours wishing they could escape. – Source

Emotionally charged events are felt globally – in real time like never before, with technology and social media being at the helm of news distribution. It’s also enabling us to act quicker than ever before to events that are happening and being felt around the world, as well as events close to home. Individuals are responding quicker then they once did and taking advantage of this information. Globalization is opening up many more opportunities. Would you consider moving to Canada? Do you know how to move to Canada?

At the World Economic Forum in Davos, Switzerland, Prime Minister Justin Trudeau pitched why Canada is a great place to invest and emphasizing the need to diversify the economy. – Source

Why Move to Canada

Some of the most important aspects to consider when looking to move to Canada are: financial stability, unparalleled market access, a welcoming business environment, a strong growth record, a highly educated workforce, low business tax costs, and a competitive R&D environment. All great reasons to move to Canada. Innovation + Stability = Profitability- More information and sources can be found here.

Where to Move to in Canada

The Real Estate market is a strong indicator of Canada’s economic stability. Individuals and businesses are flocking to British Columbia, Canada because of the affordable homes and dynamic lifestyles. December 2015 home sales in British Columbia have been entered into the record book with a record-breaking number of home sales for the month. It’s only the third time on record the market has hit these high numbers.

Diversity is the engine of invention. It generates creativity that helps change the world. We know this in Canada.

  • 6,590 residential unit sales recorded on the Multiple Listing Service® (MLS®) – up 29.8 per cent from the same month the previous year.
  • Sales dollar volume hit a record high of $4.62 billion for the month of December – up 55.4 per cent compared to the previous year.
  • BC home sales breeched the 100,000 unit threshold in 2015.

Source: BCREA

The Best Place to Move to in Canada

Nanaimo, on Vancouver Island, British Columbia is a great place to move to or to invest in now. It provides the ideal lifestyle to work and live. One of the most multicultural cities, Nanaimo, Canada offers a clean, friendly environment, world-class education, a universal health care system, and an overall incredible quality of life. With the average price of a single family home being $497,174, you can’t afford not to move to Canada! 

Looking to move to Nanaimo? RE/MAX of Nanaimo has 52 per cent of the market share and will likely have the home you’re looking for. If you’re not ready to buy, check out the Nanaimo homes for rent in our in-house Property Management department.

Not interested in moving to Nanaimo but want to move/invest somewhere else in Canada? RE/MAX of Nanaimo has almost 100 REALTORS® that are networked across Canada (and beyond) who can assist you in your move to anywhere in Canada. Call us to find the person who will help you move to Canada (250) 751-1223.

Market Update House Price Index

Market Update: Could it be an early Spring … Market?

As REALTORS® we stay on top of the trends in our market place. The trends we are seeing right now are phenomenal for home sellers. You might believe that is bad for you as a homebuyer, but in fact, Nanaimo is a beautiful, thriving, and AFFORDABLE community compared to many. Our Market Update show that for $400,000.00 or less, you have as of today, 387 homes to choose from whether single family, duplex/triplex/fourplex, manufactured or mobile, apartment or townhouse. You only have to choose what is right for you! So what has been going on in our market?

Real Estate Market Update

Our local sales statistics show the normal trend of declining sales volumes in the latter part of year (2015), which is pretty standard.  However, in February there was a huge spike in the number Single Family homes reported as sold.  In fact, the single family sales volume shows an increase of 45% in Nanaimo for February 2016 over February 2015.  That is supported by a 19% increase in sales volume over the last year.  The average sell price for the last 12 months is also up 6%.  For a better look at prices, visit the Vancouver Island Real Estate Board’s website and view the Benchmark Home Price Index.

Spring Market

This is the type of flurry we are used to seeing in a Spring Market, which can begin as early as March in some years, or as late as May in others. This type of activity in February is pretty rare.  If you have contemplated selling your home, contact one of our REALTORS® today and have a Comparative Market Analysis done, to give you good insight into what your home is worth. This “ain’t the Mainland” though, you need to review the information, and follow the guidance of a capable REALTOR® to price your home right. If your price is too high, Buyers will not make the offer you’re looking for.  Buyers have access to far more solid, comprehensive information than ever before when making their decisions, and they are informed, particularly if they are working with a REALTOR® and reviewing the available inventory in their chosen price range.

RE/MAX Broker Owner of the year

Hot on the heels of being awarded Multi-Office Broker/Owner of the Year for RE/MAX of Western Canada 2015, and Multi-Office Broker/Owner of the Year for RE/MAX in Canada. RE/MAX of Nanaimo has achieved a 52.09% Market share by Sales Volume for February of 2016 based on Vancouver Island Real Estate Board Sales and Listing Activity statistics. We have over 100 of the best REALTORS® in the business, ready to help you navigate the local Real Estate Market, and achieve your Real Estate Goals.

If you are looking for someone to help you navigate this or any market, we have professional and friendly REALTORS® who may happen to already know the property you’re looking for. Call our office at (250) 751-1223. 

NEDC sky high housing market

A Made in BC Solution to Vancouver’s Sky High Housing Market

John Hankins, CEO of the Nanaimo Economic Development Corporation, recently released this narrative on the solution to the Vancouver housing market challenge. Could Nanaimo, our made in BC city, be the solution to the sky high housing market costs in Vancouver and the challenge that presents young professionals trying to get on the property ladder and start a family?

A made in BC solution exists to the dizzy Vancouver real estate market

Hardly a day goes by when there is not a story highlighting the cost of housing in Vancouver and the challenge that presents young professionals trying to get on the property ladder and start a family. Only last week the headlines and social media were abuzz about a $2.4million knockdown property in Vancouver and yet a solution exists that is only a float plane away.

A made in BC solution exists to the dizzy Vancouver real estate market and it is Nanaimo. Yes, Nanaimo which is located 61 kilometers due West of Vancouver or within a 15-minute float plane / helicopter ride from downtown Vancouver. Nanaimo is a growing city of over 100,000 with a flourishing tech sector that is already supporting the BC governments focus on growing technology investment.

The average price for a newly built single family home as listed by CHMC in Jan 2016 in Nanaimo is $497,174 compared to Vancouver at $1,525,711 and Victoria at $736,781 the Nanaimo housing market at a third the price of Vancouver offers a viable made in BC solution to help young professionals get onto the property market, stay in BC and start a family. With lower commercial and industrial rates Nanaimo also offers an attractive base to start or locate a business, where an employer can provide a unique opportunity to its employees to stay on the West Coast, unlock the value of their Vancouver homes, realize significantly reduced commute times and pay downtown parking costs in Nanaimo you can only dream about in Vancouver.

But I hear you say Nanaimo is where people go to retire. Have I got news for you, after arriving in Nanaimo at the start of this year after spending 15 years in Calgary I have been excited to learn of the number of technology based companies that call Nanaimo home. These companies find the island lifestyle and lower cost of living conducive to attract and keep staff.

With two ferry terminals feeding daily services to Vancouver, a growing airport and the West coasts deepest sea port and busiest port on the island Nanaimo is able to overcome any perceived challenges to shipping product across Canada and the globe.

Inukton Services Ltd is an example of one such technology leader that was founded in 1989 designing and manufacturing remotely operated vehicles and modular robotic systems for use in confined spaces and hazardous environments. VMAC is a world-leader in the development of compact, powerful truck mounted mobile air compressor solutions.

Home grown technology companies are alive and thriving in Nanaimo as the City through its Economic Development Corporation (NEDC) recently invested in a downtown tech incubator called Square One that in less than a year of operation is full, with 8 companies at different stages of growth, these companies are choosing to stay in Nanaimo for the lifestyle and are able to draw on the talented pool of graduates from Vancouver Island University.

A made in BC viable and quick solution to allow companies to start up operations in Nanaimo to enable their staff from the young professional chasing the Canadian dream of home ownership and starting a family to allowing current home owners to release the equity in their home Nanaimo has it all.

Let’s change the story from a problem to a solution “Nanaimo is open for business”

– John Hankins CEO, Nanaimo Economic Development Corporation

A solution to Vancouver’s sky high housing market

Nanaimo is open for business! A dynamic city surrounded by the natural beauty of the ocean and mountains, aligns with many dynamic professionals looking for the work life balance that our incredible city and mild climate offers.  With thriving technology companies, mult-reliable transportation choices feeding the city, a close knit community, world class international University programs and affordable housing, Nanaimo is a great solution to the sky high housing market.

Compare the average price for a newly built single family home as listed by CHMC in Jan 2016:

  • Nanaimo – $497,174
  • Victoria – $736,781
  • Vancouver – $1,525,711

The Nanaimo housing market is at a third of the price of Vancouver’s. Truly a made in BC solution to young professionals getting onto the property market and staying in beautiful British Columbia.

Nanaimo is a made in BC solution. Only a 15-minute float plane or helicopter ride from downtown Vancouver, Nanaimo is a growing city of over 100,000 with a flourishing tech sector that is already supporting the BC governments focus on growing technology investment. 

If you would like more about moving to our fine city, call us at 250-751-1223!

Read more from an article published on Bloomberg Business, Vancouver’s Island Hinterland Attracts Affordability Refugees. 
Vancouver Island

A Great Place to Invest

Technology and media has made what was once so far out of reach finally attainable. We hear in real-time events that are happening around the world and know instantly when markets change in countries across the globe. Now more than ever we are able to connect and invest in other countries. This globalization opens up many more opportunities. Where in the world would you consider a great place to invest? Where can you get your money to stretch further and keep it safe?

World Economic Forum 2016

At the World Economic Forum in Davos, Switzerland, Prime Minister Justin Trudeau pitched why Canada is a great place to invest in. The keynote address entitled “The Canadian Opportunity” focused on spending plans, infrastructure, and emphasizing the need to diversify the economy.

Following that presentation, Prime Minister Justin Trudeau and Canada have received positive reviews. Virgin founder Richard Branson had something to say about Prime Minister Justin Trudeau’s optimism on topics ranging from drug policy to climate change to diversity. On the latter, he said: “Diversity isn’t just sound social policy. Diversity is the engine of invention. It generates creativity that helps change the world. We know this in Canada.” – Source

The spotlight is on Canada, and the wonderful opportunities it provides. This will peak individual and business interest for investing in Canada.

Why Invest in Canada?

The reasons to invest in Canada are endless. Some of the most important aspects to consider can be found on the Government of Canada website.

1. Financial Stability. The World Economic Forum has declared Canada’s banking system to be the soundest in the world.

2. Unparalleled Market Access. Foreign investors in Canada will have assured access to both NAFTA and the EU once CETA comes into force.

3. Innovation + Stability = Profitability. As mentioned above, Canada is the place to live if you are looking for a dynamic and prosperous country in which to invest, innovate, grow or expand your business on the world stage. Canada welcomes foreign business investments and offers five competitive advantages:

4. A Welcoming Business Environment

5. A Strong Growth Record. Canada led all G-7 countries in economic growth over the past decade (2005–2014). Source: The World Bank

6. A Highly Educated Workforce

7. Low Business Tax Costs. Total business tax costs in Canada are by far the lowest and 46 percent lower than those in the United States.

8. Competitive R&D Environment. Canada offers the lowest business costs in the G-7 for R&D-intensive sectors, with a 15.8 percent cost advantage over the United States.

More information and sources can be found here.

British Columbia Homes Sales Record

An indicator of Canada’s economic stability can be seen in the Real Estate market. Individuals and businesses flock to Canada and British Columbia because of the affordable homes and dynamic lifestyles. British Columbia’s December 2015 home sales enters the record book of having a record number of home sales for the month. It is only the third time on record to hit this high watermark.

  • A total of 6,590 residential unit sales were recorded by the Multiple Listing Service® (MLS®) last month, up 29.8 per cent from the same month the previous year.
  • Total sales dollar volume hit a record $4.62 billion for the month of December, up 55.4 per cent compared to the previous year.
  • The average MLS® residential price in the province climbed above the $700,000 threshold for the first time in BC last month, rising 19.7 from December 2014 to $700,943.
  • BC home sales breeched the 100,000 unit threshold in 2015.

Source: BCREA

A Great Place to Invest

British Columbia, Vancouver Island, and Nanaimo in particular, are great places to invest in. A great place to invest, work and live, in one of the most multicultural countries in the world. Canada offers a clean and friendly environment and eco-system, world-class education, a universal health care system, and an overall incredible quality of life.

If you are interested in investing in Nanaimo contact us – we can pair you with someone who can help you find what you’re looking for. (250) 751-1223