Belleville, Quinte West & PEC | April Market Update

Here is your weekly update on what is going on in the real estate market. From localized announcements to international trends, stay in the know about what is going on all things real estate. 

Canadians put off plans to buy a home until the Bank of Canada cuts rates

Those expecting a spring rebound in Canada’s housing market might have to wait longer than they thought. A survey by the Bank of Montreal revealed this week that 72 per cent of aspiring homeowners are waiting for the Bank of Canada to cut interest rates before buying. Canadians opting to wait for rate relief are up 4 per cent from 2023 amid growing concerns about the cost of living, inflation and their financial situation, said BMO.

Increase in capital gains tax rate could spawn cottage sales boom

The new capital gains tax proposed in the Liberal budget has led to speculation that there might be a flood of cottages entering the market or a push for earlier closing dates as sellers try to avoid a hefty tax bill. “I am seeing an increase in people wanting to list their properties now that this is going into effect,” said Beth Groom, a broker and owner of Cape Breton Realty.

How much does $1 million buy you in Canada's housing market?

The purchasing power of buyers with a $1 million budget searching for a home in Canada will widely vary depending on the city they are shopping in with those in Toronto getting less square footage and fewer bedrooms than everywhere aside from Vancouver, according to a new report.

Try your hand at pickleball every Friday night from 6:30–8:30pm at 135 Palmer Road in Belleville! For more information, call or text 613-242-1962

Homestead Farmers’ Market

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