2010 RBC Homeownership Study

On Monday RBC released the findings of their 17th Annual RBC Homeownership Study.

Looking at the Atlantic Canada numbers reveals some interesting statements about Atlantic Canadians housing intentions and costs. According to the RBC media release:

• Three quarters of Atlantic Canada residents believe now is the time to buy a home, rather than waiting until next year.
• Eleven per cent of Atlantic Canadians say they are very likely to buy in the next two years.
• Survey respondents cited good housing prices, favourable interest rates and getting a new job as the primary reasons for their homebuying intentions.
• Atlantic Canadian homeowners are least likely (55 per cent) to have a mortgage on their home and those that do have the lowest amount left to pay ($80,569)

In my opinion all the above applies to the Moncton area housing market. And I will add to this positive outlook the fact that currently over one in five properties being bought are new construction.

My advise to Buyers is to be sure that that they are being fully protected and represented by their Agent and to never agree to double agency. Particularly when buying new construction.