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Industry Landscape
The Canadian real estate market is currently experiencing a slowdown due to high interest rates and stricter mortgage rules. Inventory is increasing, providing buyers with more choices, but affordability remains a major concern, particularly for first-time homebuyers. Certain regions are seeing price corrections, while others remain relatively stable. The market is shifting towards more balanced conditions after a period of rapid growth, with increased scrutiny from regulators and a focus on sustainable growth.
Total Assets Under Management (AUM)
Home Sales Volume in Canada
~450,000 home sales
(-5% CAGR)
- Decrease in sales due to interest rates.
- Higher inventory affecting sales volume.
- Market corrections in some regions.
Total Addressable Market
800 Billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
AI-Driven Analytics
AI-powered analytics provide real estate professionals with deeper insights into market trends, property valuation, and customer behavior, enabling more informed decision-making.
Blockchain Technology
Blockchain technology ensures secure and transparent real estate transactions, reducing fraud and streamlining processes like title transfers and mortgage approvals.
Virtual/Augmented Reality
Virtual and augmented reality create immersive property tours and visualizations, enhancing the buying and selling experience for consumers and allowing for remote property viewings.
Impactful Policy Frameworks
Mortgage Stress Test
The Mortgage Stress Test (B-20 Guideline, continuously updated) requires borrowers to qualify at a higher interest rate than their actual mortgage rate, aiming to ensure they can handle future rate increases.
These stricter rules reduce the purchasing power of first-time homebuyers, impacting the number of transactions and requiring FVREB members to adapt their strategies to serve a more constrained market.
Speculation and Vacancy Tax (British Columbia, 2018)
This tax targets property owners who do not pay income tax in BC or leave their properties vacant, aiming to increase housing affordability and availability.
The speculation tax reduces demand from investors, influencing property values and sales volume, necessitating that FVREB members provide updated analysis and strategic advice to their clients.
Amendments to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada, ongoing)
Amendments to this act impose stricter obligations on real estate professionals to report suspicious transactions and verify client identities to combat money laundering and terrorist financing.
These changes require greater transparency and compliance from real estate professionals, increasing the need for FVREB to provide comprehensive training and resources on anti-money laundering practices.
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