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August 20
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Call Steve Burk at 1-800-563-2875
Waterfront Property Specialist
RE/MAX Crest Realty
Baby boomers living large in recreational properties
Baby boomers living large in recreational property markets across Canada; Upper-end set to soar in 2007. Luxury recreational property sales are set to soar in coming months as affluent baby boomers drive demand for upscale product from coast-to-coast, according to a report released today by RE/MAX.
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RE/MAX Market Outlook Report for 2007: read it here
Residential real estate activity showed unprecedented strength during the first half of 2006, despite earlier forecasts for moderating demand. Double-digit increases in housing prices were reported in Vancouver, Victoria, Kelowna, Edmonton, Calgary, Winnipeg, and Halifax while more modest gains occurred in Saskatoon,Regina, Toronto, Hamilton, Ottawa, Kitchener-Waterloo, Montreal, Saint John, and Charlottetown. Average price appreciation shattered existing benchmarks, with both Calgary and Edmonton reporting increases of 40 per cent and 25 per cent respectively. Nationally, the number of homes sold continued to rise, with sales matching last year’s record-breaking pace.
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GREYING POPULATION TO SERIOUSLY BOLSTER CANADIAN RECREATIONAL PROPERTY MARKETS
The RE/MAX Recreational Property Report, which highlights activity in 40 major Canadian centres, found that older boomers are fueling unprecedented demand for recreational properties in 67 per cent (27) of markets surveyed during the first quarter of 2006. Never before have those aged 50 plus been such a strong segment of the recreational property market.
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