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China’s market turmoil – Will it impact BC real estate?

As with any economic debate there are always opposing opinions. The Chinese stock market began the year with wild fluctuations and considerable losses that triggered an automatic shut down at one point. This may lead Chinese Investors to move their assets into markets not affected by the Chinese currency. According to Scotia bank Economics Vice President Derek Holt, as quoted in the Vancouver Sun “Canadian real estate … because our own currency has depreciated so much … that has put Canadian assets on sale from the vantage point of, say, Asian investors.” This is one way the turmoil may impact BC real estate.

As we all know this is not a new phenomena, and the result is reflected in the disproportionate market prices in Vancouver.

On the other hand the uncertainty affects us in other ways too as our own stock markets fall in response to the turmoil. Economists believe a falling stock market will have a negative impact on the Canadian economy, especially as we are so heavily dependent on resource exportation for which demand has slowed along with the Chinese economy,

The Chinese stock market is made up of 80% individuals as opposed to Institutions and one option for China is to devalue it’s currency, the recombine, to encourage exports. This would decrease the value of people’s savings which is another reason many may look to move their money offshore.

Is this having an effect on us here in the Okanagan? It is hard to tell yet I think. Our housing prices have not been affected in the same way as Vancouver as we have not seen as much interest here yet, but I believe there has been a steady increase in the purchasing of business opportunities here in the valley by Chinese investors. It is very hard to tell as real estate statistics do not reflect such phenomena. Also any Chinese investors who actually live in Vancouver may soon get tired of the rain and choose to migrate here instead as many Lower Mainlands have in the past.

If we just had a crystal ball it would be so interesting to know what the future holds for us, but for now we can feel confident in a steady local market and be grateful to have the opportunity to live in such a beautiful part of the world here in the Okanagan Valley.

Kelowna Real Estate Listings – MLS® benefits for buyers

Kelowna Real Estate Listings are the primary source of information to you as a purchaser looking to purchase real estate.

The Kelowna MLS® system is designed to be a collective of listings from most of the REALTORS® in the Okanagan.

Kelowna Real Estate Listings – What is excluded from the MLS®

The exclusions would be home-owners who choose to list their properties without the help of a REALTOR® which is also an area worthy of scrutiny as a potential buyer. The second exclusion would be REALTORS® who have an “Exclusive Listing”. This situation arises when a client perhaps does not want the market to know that they are selling there property. In this situation, the property is for sale but not advertised in a typical manner.

Kelowna Real Estate ListingsThe Kelowna Real Estate Listings are also a great source of valuable information for REALTORS® who can gather data on behalf of their clients and interpret trends and real time market activity. My goal as a REALTOR® is to ensure that you are informed and prepared for what is typically the biggest decision you will make financially.

Check out my LISTINGS PAGE here.

The biggest benefit with Kelowna Real Estate Listings is that I can access information and show any property to you that is listed on the MLS system. As an industry, we work with our professional colleagues to share information and increase market exposure for our Kelowna Real Estate.

The information is uploaded by the listing REALTOR® to the MLS® system and as a Professional Real Estate Agent, I am able to access the information that is not available to the public because of the confidential nature of all of the information that is required in a listing.

With that information I am able to research all of the Kelowna Real Estate Listings and prepare a list of suitable properties for you to review.