Newcomers hold the key to a sustained recovery in the real estate market in Canada, it is claimed

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Nicholas Wallwork

Nicholas Wallwork

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Low interest rates, more affordable property prices and the purchasing power of immigrants are combining to boost the real estate market in Canada.

The role of immigrants will play a key part in making sure the fledgling recovery in the property market is sustained, it is claimed. Recent official figures point to increased sales activity and rising prices.

While some economists don’t think the current boom will last others believe that it is newcomers that will help the recovery along. They point to information from Statistics Canada data and Census information by Canada Mortgage and Housing Corp that show that the degree of homeownership attained by immigrants just six months after landing in Canada is impressive.



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