• Canada’s residential real estate market continued to show strong appreciation in the second quarter of 2016, posting the highest national year-over-year gain seen in five years.

• The cooling of Canada’s hottest real estate markets is delayed again as central bankers are expected to keep interest rates lower for longer in light of Brexit and global uncertainty.

• Looking ahead to the remainder of 2016, Royal LePage forecasts that the aggregate price of a home in Canada will increase 12.4 per cent when compared to year end 2015.

• According to our recent Royal LePage Advisor Survey on foreign buyer activity in the Greater Vancouver and Greater Toronto Area, while a majority of respondents confirmed that foreign buyer activity increased in 2016 year-over-year, 35 and 37 per cent of respondents believe that foreign buyers account for less than 10 per cent of the GTA and Greater Vancouver housing markets, respectively.

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