Just over half of Canadians expect home prices to keep on surging in 2014, according to a survey by real estate portal Point2 Homes, released June 25.
Some 51% of respondents expect to see a significant jump in local house prices this year, while 26% think they will remain largely unchanged. Only 23% of survey participants said they expected home prices to decline.
Canadian respondents who anticipate an increase in residential property prices think prices will rise by an average of 8% in 2014.
In British Columbia, 45% of respondents said they were confident local prices will go up, 28% said they would remain static and 27% said they expect a price decline. This compares with 73% of survey participants in Alberta, the most confident province, expecting price rises and 40% in the least confident province, Saskatchewan.
The survey is based on 1,232 responses and was conducted by Point2 Homes between April and May 2014.
Real estate agents were 30% more upbeat about Canada's housing market than buyers and sellers. About 65% of real estate agents think the housing market is gaining positive momentum, while 50% of buyers and 49% of sellers are convinced that prices will go up.
Click here for more details and charts on home price trends in Canada.
45% of BC residents expect real estate prices to rise in 2014
