Government policy and natural market cycles are slowly cooling down real estate. Surrey Real Estatehot market is expected to slow over the next two years, CMHC new figures says that. House prices in the province are set to level out with Population growing , jobs and salaries. Vancouver real estate market predictions 2019 are similar to expect just like city of surrey.
Bank of Canada’s recently did not hike interest rate could affect that, but it still is buyers’ market. Buyers offer on most of the properties are being the only offer on the table and it helps negotiating the best price and terms for the buyers, Especially first time home buyers .
Bank of Canada earlier this month did not hike the interest rate, and most of economists predict that Bank of Canada will opt to leave its interest-rate target unchanged in January as well which is at 1.75 as of now. Looking at the economy it looks like to get one interest rate hike in 2019, which doesn`t look like before 2nd Half of the year, Which will Keep the Real Estate In Surrey and Realtor in Surrey Busy.