Shaky economy good and bad for first-time home buyers: Report

Women

Sixty per cent of buyers entering B.C.’s housing market for the first time are women, according to Royal LePage.

Published: May 27, 2009 5:25 a.m.

Last modified: May 27, 2009 1:28 a.m.

Be the first to comment

Print article

Text size

For potential first-time homebuyers looking to get into Vancouver’s housing market, the current economy is a double-edged sword, according to a report released yesterday by Royal LePage Real Estate Services.

The B.C. Real Estate Association reported yesterday that the average home price is forecast to decline eight per cent to 420,600 this year, instead of the 13 per cent originally forecast.

But the low home prices and interest rates are balanced by an uncertain economy — and, by extension, uncertain employment prospects — that’s keeping some potential homebuyers at bay, according to Royal LePage’s First-Time Homebuyers’ Report.

more local stories

Raonic helps Canada even France at Davis Cup

VANCOUVER - This time, Milos Raonic got the better of Julien Benneteau.

Concrete slab tumbles during crane collapse

COQUITLAM, B.C. - A massive piece of concrete tumbled into the Fraser River on Friday when part of a crane collapsed during construction of the new Port Mann Bridge in Metro Vancouver.

Telus profit rises 4.9 per cent in Q4

VANCOUVER - Telus (TSX:T) says fourth-quarter profits increased 4.9 per cent as it signed up more subscribers to its TV services, but fell short of overall analyst expectations.

Add your comment

Comments are not reviewed before posting. If you believe a comment has violated the commenting guidelines, please alert a moderator using links provided.