What Canadians think about your housing market… and assignment sales

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No matter where you operate, this latest study on consumer sentiment regarding housing prices is a must-read for all agents..

Consumer sentiment has been well-tracked in both Vancouver and Toronto – the country’s hottest real estate markets – but one firm as expanded that to include all provinces in a study it says is the first of its kind.

“It’s clear that Vancouver-area residents remain most frustrated by real estate costs. However, as the following graph demonstrates, a significant proportion of residents in smaller urban centres don’t exactly see themselves rolling in clover when it comes to their own markets,” the Angus Reid Institute said in its study entitled Beyond Vancouver & Toronto, most Canadian city dwellers say home prices either high or unreasonable. “No fewer than 45% in Edmonton, Calgary, Winnipeg, Montreal or Halifax view prices as either “high” or “unreasonably high.”

The public interest research firm conducted a random online survey across Canada from February 2-10, which included 5,867 Canadians. The survey data contains a margin of error of +/- 1.3%. A separate survey included 1,513 participants and had a margin of error of +/- 2.5%.

This is how participants responded to a question about the affordability of housing in their respective communities.

Source: Angus Reid Institute

The study also asked participants to weigh in on the controversial practice of assignment sales.
Perhaps surprisingly, sentiment around the practice – which some agents have reportedly used to purchase homes from clients before selling for a higher price than original asking – is somewhat split.

Source: Angus Reid Institute