Economic fundamentals of Saskatoon project a favorable outlook for future and current real estate investorsSeptember 20, 2017
CNW, The Wire
VANCOUVER, Sept. 20, 2017 /CNW/ - A new research report released today shows Saskatoon can expect favourable real estate growth over the coming five years beginning in 2018. In fact, the Saskatoon market should outperform most Western Canadian cities.
The Real Estate Investment Network (REIN) studied a wide variety of economic & demographic factors to arrive at this conclusion. The analysis, contained in its "Saskatoon Economic Fundamentals Report" says the Saskatchewan capital will fare better than most other Western Canadian cities.
Saskatoon's history as an agricultural centre is being overshadowed by growth and diversity in many other sectors, such as energy, finance, healthcare, insurance and real estate. This growth and stability, along with relatively affordable housing options, makes Saskatoon a prime location for businesses and families - and that is good news for homeowners as well as investors looking to start or grow their portfolios.
REIN's research and analysis identified a increasingly diverse economy, relative low unemployment, rising incomes and a rapidly growing demand for rental and home ownership as landmarks it its predication of prosperity.
The Report says, "The city's economic diversity has helped to cushion the housing and commercial real estate markets from dramatic downturns witnessed in other Western Canadian cities."
There are several driving forces behind this positive prediction forSaskatoon.
Since early 2016, oil prices seem to have found a level of stability after a large tumble. This has renewed some level of confidence in that employment sector with oil production rebounding at a manageable 4.5% in 2017 and forecast for further growth of 3% in 2018.
The province's 9% growth in exports in 2017 is showing an increase in employment based economic growth.
This is welcome news for an economy heavily reliant on oil (oil prices being a key economic factor.)
Furthermore, major financial institutions such as The Royal Bank of Canada(RBC) forecast Saskatchewan to rank among the provincial leaders in growth in 2018.
All of this is good news an ideal environment for those looking to a future in Real Estate Investment and equally as favorable for the well-seasoned Real Estate Investor. Despite the inevitable troughs and peaks the market will experience, the long term outlook is strong
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REIN has more than 25 years experience in the Canadian Real Estate Investment industry. It delivers unmatched research and analysis to our members, the media, the corporate world and the public. We publish unbiased research and educational material with a sharp focus on real estate markets across Canada. REIN uses analytic tools, formulae, and economic fundaments based on our proprietary ACRE (Authentic Canadian Real Estate) system. REIN analysis helps homeowners and investors make financial decisions that are fact-based, not emotionally driven.
For more information:
Report when released (public link): http://info.reincanada.com/saskatoon-economic-fundamentals
Long-Term Real Estate Formula graphic:
SOURCE Real Estate Investment Network Ltd.
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