Could the cumulative 75 basis point cut in the Bank of Canada’s policy rate motivate renters to make the leap into homeownership?
Sluggish rent growth is the first item on our agenda this month. Could the recent interest rate cuts be motivating renters to move into homeownership?
It seems Bank of Canada's fourth interest rate cut and the fall in inflation will hit the rental market harder than the sales market.
Rent prices have ticked up slightly, but trade tensions with the US may slow future gains.
Rent prices softened last month with supply increasing, as highlighted in the regular PayProp Insights housing market overview.
The rental and sales markets are in flux. Election tension, population shifts, and economic uncertainty make price and demand trends unpredictable.