Real Estate Appraisal in Canada
The seas have been smooth sailing for the Real Estate Appraisal industry in Canada. A booming housing market and vastly improved economy overshadowed the collapse in commodity prices that occurred midway through the five-year period. The boost in demand for mortgages led to demand for industry services. Although the industry also comprises nonresidential markets, declining corporate profit totals, largely the result of falling oil prices, have resulted in contracted nonresidential construction activities. Over the next five years, conditions are expected to worsen for industry operators. While nonresidential markets are expected to be an area of growth during the five-year period, the housing market is expected to cool down due to rising interest rates and new mortgage regulations.
Operators in this industry specialize in estimating the fair market value of real estate. Appraisers research a property or development to determine the characteristics pertinent to its market value. Valuations for a property are carried out when it is sold, mortgaged, taxed, insured or developed.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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