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in si de ha lto n. co m O ak vi lle B ea ve r | T hu rs da y, F eb ru ar y 14 ,2 01 9 | 32 Floor Now, Pay Later Program Allow me to introduce Floor Coverings International and the exciting new real estate program we created. This Floor Now, Pay Later Program is designed to help you, the realtor, overcome your competitive market. We will partner with you in offering your client an opportunity to add value to the home they list with you. Floor Coverings International will be proud to install a brand new floor and, without adding interest, defer payment for this upgrade until the house gets sold. Floor Coverings International Unit 1 - 1293 North Service Road East,Oakville L6H 1A7 Ph: 905.849.0036 • Email: brigida.jensen@floorcoveringsinternational.com Email: roman.gregg@floorcoveringsinternational.com * Redeemable for qualified sales with approved credit. Call for details UPGRADE FLOORS & SELL MORE HOMESA win-win solution Advertorial Re/Max 2019 housing market outlook Modest price increases are expected in 2019, as the Re/Max 2019 Housing Market Outlook estimates the average sales price to increase by 1.7 per cent. Housing markets across the country have stabilized in 2018, after the unprecedented increases in aver-after the unprecedented increases in aver-after the unprecedented increases in aver age sales price that many markets experi- enced in 2017. However, there continue to be some outliers in 2018 average sales price gains, particularly in areas outside of the main city centres, such as Chilliwack (+ 13 per cent), Windsor (+13 per cent), London (+17 per cent) and Charlottetown (+11 per cent). It is anticipated that the market will con- tinue to stabilize, as Canadians will start to feel the pinch of higher interest rates as they move forward with their home-buying plans in 2019. A recent survey revealed almost one-third (31 per cent) of Canadians said higher interest rates have not affected their ability to get an affordable mortgage thus far. However, this is expected to change in 2019. A separate survey of Re/Max brokers and agents found 83 per cent predict rising inter-agents found 83 per cent predict rising inter-agents found 83 per cent predict rising inter est rates will make it more difficult for Cana- dians to purchase a home next year. Ontario In Toronto, rising interest rates and the mortgage stress test were the two major fac- tors affecting market activity this past year, with average sale prices dropping by four per cent from $822,572 in 2017 to $789,181 in 2018, and unit sales down by 16 per cent. Lack of affordability in the single-detached segment will make it difficult for buyers want- ing to enter the freehold market. The resale condo market, on the other hand, now repre- sents almost 37 per cent of total residential sales, with its relative affordability fueling the rise of vertical growth. Average residential sale price is expected to increase by two per cent in 2019. Communities such as Ottawa and Lon- don are sellers' markets, showing increased growth in average residential sale price. This trend is expected to continue into 2019, how- ever rising interest rates and the stress test continue to make it difficult for prospective buyers in other Ontario communities, includ- ing Barrie, Oakville and Durham regions. Due to the stress test and increasing inter-Due to the stress test and increasing inter-Due to the stress test and increasing inter est rates, we are seeing more buyers in tradi- tionally affordable regions in Ontario unable to enter the market," says Christopher Alex-to enter the market," says Christopher Alex-to enter the market," says Christopher Alex ander, Executive Vice President and Regional Director, Re/Max of Ontario-Atlantic Canada. "This is particularly true for first-time buyers and single Millennials, as evident in cities like Brampton, Kingston and Durham. Thirty-six per cent of Canadians are con- sidering buying a property in the next five years. This is down from 48 per cent at the same time last year. The decrease is attrib- uted to actual and perceived impacts of the mortgage stress test and rising interest rates on housing affordability. Thirty-one per cent of survey respondents said higher interest rates have not affected their ability to get an affordable mortgage so far, but the risk of future rate hikes, as indicated by Re/Max brokers and agents, might affect these buy- ers in 2019. Liveability continues to be important to Ca- nadians, with more than half wanting to live closer to green spaces, work and better ac- cess to public amenities. Specific figures: • 52 per cent of Canadians would like to live closer to green spaces • 47 per cent would like better access to public amenities • 35 per cent would like to live closer to work • 37 per cent would like to live closer to public transit • 35 per cent would like to move to a different neighbourhood • 59 per cent strongly disagree with liv- ing near a retail cannabis store Article provided blog.remax.ca.