According to data recently released by Royal LePage, Canada’s leading real estate services provider, American interest in Canadian real property has risen following the U.S. Presidential Election, with an increased number of Americans conducting research into real estate markets across the nation.
American web traffic on royallepage.ca, the company’s consumer real estate portal, has been highly correlated to recent U.S. political events. U.S.-originated sessions surged 329.0 per cent the day following the election and climbed 210.1 per cent year-over-year the week after Donald Trump’s victory. Looking at the full month of November, 2016, U.S. web traffic grew 73.7 per cent year-over-year, when compared to the same period in 2015. This trend continued throughout the remainder of 2016, with American web traffic rising by 40.9 per cent year-over-year during the fourth quarter.
According to a new Canada-wide survey of 1,226 Royal LePage real estate advisors, U.S. interest in Canadian real property will continue to climb, with 39.5 per cent of respondents forecasting that American inquiries into Canadian real estate will rise under President Donald Trump. In the fourth quarter of 2016 – of which November and December are traditionally quieter times for North American real estate activity – 15.6 per cent of the advisors polled received inquiries from south of the border.
“Always a desirable destination for migrants, Canada’s attractiveness as a country for international relocation has surged this decade,” said Phil Soper, president and chief executive officer, Royal LePage. “The United States was already a top source for immigration into Canada, and now in the period following the recent U.S. election, we are witnessing a material bump in American interest in Canadian real estate.” “U.S. interest in Canadian real estate is not a new phenomenon –– we are next door neighbours,” said Soper. “From Whistler to Muskoka; to Tremblant and Nova Scotia’s south shore, Americans have traditionally been the largest foreign cohort of recreational property purchasers in Canada. With our country’s ever-growing global reputation as a financially sound, happy and culturally tolerant place to raise a family, it is not surprising that interest has moved from a place to play, to a potential place to live and work.”
“Given America’s vast population, even a fractional increase in the number of households following through on this initial interest and successfully completing the demanding process of emigrating to Canada could drive a material increase in the number of home-buyers from south of the border,” concluded Soper. “Our federal government is seriously considering increasing the quota of new Canadians welcomed from abroad, and with the high value of the U.S. dollar increasing Americans’ purchasing power, we may be seeing more moving trucks with U.S. license plates in our future.”