|SFH 6 month average||$580,000||$550,000||$585,000||$565,000||---||---||$609,342*|
|BoC Interest Rate||1%||0.5%||1%||0.75%||---||1.25%||1%|
|Teranet June 2014||128||130||132||131||129||128||136.2|
|Teranet Dec 2014||124||126||131||128||124||125||TBD (Nov: 138.2)|
* The 6 month average SFH price does not appear to be published anymore. This is the annual average.
Overall we all sucked. Marko wins for being closest on every measure; that's why he gets paid the big bucks.
"House prices across the Canadian housing market may peak in 2014. Victoria's big price declines will likely begin after the Canadian housing market peaks and it is evident that house prices across Canada have begun to correct." - Info
"further controls will be added to the mortgage market but I think at least one of them will be head line grabbing. I'm going to go with regional caps re-established on CMHC insurance." - Koozdra (some minor tweaks happened)
"I think we will see a drop in prices of approximately 5% by December (in Oak Bay)" - totoro
"In short, 2014 to early 2015 will see a sharp transition. This will result in either a significant increase in MOI or significantly lower prices; probably a combination of both." - LeoM
"MLS HPI (2014): - 4%" - Info (Actual: Up 2.1%)
"Any generalized market prediction would be meaningless in this market." - Just Jack
Assessments are also in and overall seem to be pretty flat except for in the periphery.
In important economic news, oil prices below $50 a barrel. How long can the oil sands withstand operating at a loss before those camp jobs start evaporating?