Toronto Vancouver and Real Estate

real estate: Sotheby says sales gains are expected to be highest in the over $4 million category in the Toronto and Vancouver areas this fall, although higher sales volumes are expected in the $1 million to $4 million range, as well, according to The Toronto Star. The realtor lists increased demand from international investors alongside limited inventory, historically low interest rates and heightened consumer confidence as the factors expected to fuel sales growth in Canada two hottest real estate markets. The realtor predicts that sales of homes worth over $1 million will rise in Toronto and Vancouver, while Montreal luxury market should be balanced and Calgary will slow due to the effects of declining crude prices. In Calgary — where the luxury real estate market turned down in the first half of the year due to lower oil prices and a dip in consumer confidence — sales likely will continue to decline. Meanwhile, volatility on the global stock markets is expected to lead to an influx of international buyers looking to snatch up top-tier Canadian homes — particularly buyers from China, where the economy has shown signs that it is slowing. Sotheby says performance in Calgary high-end housing market, which saw several years of record-breaking sales, is tied inextricably to the state of the oil and gas industry which, in turn, has an affect on employment and migration. (news.financializer.com). As reported in the news.