“Time flies and the year is coming to an end. With 2015 upon us, it is timely for us to take stock to see how 2014 did, and at the same time, forecast how next year would be like for Bellewoods.

In Jan 2014, we shared why we thought 2014 could be a turbulent for the property market . To recap, the bearish outlook for 2014 was due to the following reasons: (1) more residential units being completed and coming online, (2) more resale units entering into the market as units affected by the Seller Stamp Duty (SSD) clear the 4 years mark, (3) the pool of potential buyers has shrunk significantly. Looking back, the assessment from our research team has not been too far off. The index dropped from the peak of 216.3 in 2013Q3 to 207.9 in 2014Q3, which translates to a drop of about 4%.

Bellewoods EC