Positive Outlook for Real Estate in Kawartha Lakes for 2015
The outlook for real estate in Kawartha Lakes looks good for 2015. Consider the following if you are intending on selling your property this year:
1) Gasoline prices are the lowest they have been in the past 4 to 5 years. Buyers will be more receptive to buying in Kawartha’s now that commuting costs are less expensive. Cottage properties, recreational properties and permanent relocations should substantially improve.
2) The forecast for interest rates is that they will increase in the 3rd quarter of 2015 by up to 1.5%. This will be the first positive move in interest rates since 2008. This alone should stimulate sales in first half of 2015.
3) The economic forecast for the US economy is indicating a 3% improvement in the GDP (Gross Domestic Product) for the American economy. As we are all well aware, when the US sneezes, we catch a cold.
4) Although the current fall in Gasoline prices is not great for the Canadian economy as a whole, cheaper fuel prices should be a positive stimulation for the Ontario economy.
5) Momentum in property prices and sales in Toronto and Durham Region are continuing in an upward fashion. Kawartha Lakes should now be in a position to capitalize on the movement eastward as these trends continue.
6) The Canadian dollar has dipped to a more competitive position during the last few months as the American dollar improves. A more competitive dollar will substantially improve our export sales and continue to make our industrial base in Ontario more attractive to manufacturing.
7) As a result of the slow economic recovery of the world economy, there remains a lot of “pent up” demand to move ahead. We should see an improvement in real estate sales this year.
With the above points in mind, if you are considering selling this year, now is the time to list.
Jerry Bryans, Sales Representative
Royal Lepage Kawartha Lakes Realty Inc., Brokerage