News Column

2012 Canadian Real Estate Activity Recapped by Industry Professional Marnie Bennett

Mar 20 2013 12:00AM

Marketwire

Tracker

OTTAWA -- (Marketwire) -- 03/20/13 -- Marnie Bennett, a marketing consultant who has over 30 years' experience in all aspects of the residential construction and the real estate industry, has fielded many questions pertaining to the health of Canada's market over the last few months.

With speculation regarding a US-styled financial crisis and impending housing bubble burst, media outlets have reported on all aspects of the issue and have in many instances extrapolated conclusions from scant data.

Recently, The Wall Street Journal published an article that recapped the 2012 performance of the Canadian real estate industry, particularly that of the commercial field. While Bennett is happy to announce the success of the industry as a whole, she also emphasizes observers, prognosticators and investors alike that the Canadian cities whose individual and separate markets are added together or combined to describe the "Canadian market" are extremely different from each other and are subject to different local conditions that make any reference to the Canadian marketplace as being overly simplified, fraught with errors and, in numerous instances, completely misleading or totally incorrect. In other words, a summation of all markets in Canada which purports to be a "snapshot" of the entire Canadian market is at best an average and certainly will not be an accurate (in either raw statistics or in trends) representation of the activities and opportunities that exist in the various regions or sub-markets in the Country. Due to the size of certain large urban markets (notably, Toronto and Vancouver), current activities in those particular local markets will always and necessarily distort the state-of-affairs in other smaller local Canadian marketplaces.

The article asserts: "Worries about Canada's teetering housing market have been front and center for Canadians in recent months, but commercial real estate has been quietly generating some robust returns, according to information from IPD, a Chicago-based firm that tracks commercial property markets globally." The success of the commercial field has certainly lent a hand to the overall success of the market during 2012, as the article explains that "Commercial property assets have benefitted from investors' appetite for yield, as well as a growing understanding of real estate's role within investment portfolios as a vehicle for diversification and a source of stable, long-term income."

Marnie Bennett agrees that commercial properties are, in this regard, an important aspect of the local Canadian markets. However, she asserts that residential properties are also attracting the attention of investors and that it is absolutely crucial that one do their homework and be aware of the respective "health" of the local marketplaces and not to let a biased or distorted "average" or over-simplified generalization blind you from benefitting from opportunities that exist in the numerous healthier local markets that exist outside of the localized troubled markets.

"Residential sales are an important aspect of every Canadian market," comments Bennett. "We have seen neighborhoods revitalized by condominium projects and we have seen foreign investors and domestic buyers finalize purchases. Last year was a wonderful year for the real estate industry, to be sure, but I would certainly not say that the commercial side of each market's real estate market was the only aspect that experienced success. I have personally assisted many clients in buying and selling properties and have seen the growth in the Ottawa market. To get an accurate reading of the health of the Canadian real estate environment, it is crucial that analysts look at individual cities, not just the country as a whole, because each city's conditions, peculiarities and economic stimuli are so very different and evolving."

ABOUT:

Marnie Bennett, a marketing consultant at Bennett Property Shop Realty, focuses on creating marketing and sales tactics for both new and resale homes, for investment real estate properties and for condominiums. With a long and diversified background in the real estate field -- as both a builder, a developer, an agent, a broker, and a marketing consultant for a wide variety of builders and building styles -- Marnie Bennett is uniquely equipped and knowledgeable to assist both the leaders in this industry design the promotional strategies that will successfully spotlight their properties and provide buyer values; and to help and advise home buyers and investors to find and then purchase either their dream home or their perfect investment property.



Source: Marketwire


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