The number of Americans browsing for Canadian properties spiked following the U.S. election last fall, and real estate advisors don’t expect this increased interest to abate any time soon as President Donald Trump takes office today.
Royal LePage observed a more than four-fold increase in American web traffic on its consumer real estate portal on Nov. 9, the day after the election. That web traffic remained high for the following week (up 210.1 per cent year over year), the month of November (up 73.7 per cent year over year) and the final quarter of 2016 (up 40.9 per cent year over year), reported the real estate services provider.
Nearly 40 per cent of real estate advisors reached by a cross-country survey expect to see a sustained uptick in U.S. inquiries about Canadian properties during Trump’s tenure in the White House, according to findings released this morning by 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,” said Phil Soper, present and CEO of Royal LePage.
Americans are most interested in residential properties, with Canada’s largest markets attracting the lion’s share of U.S. regional page views, the real estate services provider found. A full three-quarters of American inquiries made in the fourth quarter of 2016 related to residential properties. Also during this period, Ontario, British Columbia and Quebec collectively captured 72.7 per cent of U.S. regional page views on Royal LePage’s consumer real estate portal.
Royal LePage surveyed real estate advisors from across Canada for their views on American interest in Canadian real estate in the aftermath of the U.S. election, reaching 1,226 advisors between Jan. 12 and 17.