Canadians less optimistic of growing house prices
The latest figures from the Bloomberg Nanos Canadian Confidence Index show growing pessimism over property prices. The index is based on weekly telephone polling and the latest data, for last week, shows that 34.7 per cent of respondents believe home prices will be higher in six months, that’s down from 37.8 per cent in the week earlier. Those who felt prices would go down increased to 13.9 per cent, a rise of 0.6 per cent from the previous week. When asked about the economy overall 29.9 per cent felt that it would not be stronger in six months, up from 26.4 per cent a week earlier. The low oil price is the main factor in falling optimism with a slowdown in the energy sector and lower oil revenues for government among the concerns.