Market Minute - January 2019

Twenty-eighteen saw tighter mortgage qualification rules, higher mortgage rates, and a foreign buyers’ tax that DOESN’T apply to the Sunshine Coast. What’s can we expect for 2019?

Predictions vary from a flat Vancouver market for the rest of the year to prices continuing to fall for the foreseeable future. As the Sunshine Coast is impacted by the Vancouver market, I anticipate seeing more inventory and a flattening of prices.

There’s still lots of demand for Sunshine Coast real estate but it’s tempered by the aforementioned mortgage rules. Buyers want your property but can only offer what they’ve been pre-approved for.

Buyers will need to exercise patience as they wait for sellers to accept this new, lower priced environment. Conversely, sellers should start to consider that prices likely aren’t going up anytime soon and if they really want to sell, they may need to lower their expectations in regards to price. 

Tony Browton -

Personal Real Estate Corporation
Re/Max City Realty (Gibsons)
Phone: 604-886-3760
Mobile: 604-418-2695
Fax: 604-886-3760
Toll Free: 1-800-986-2670