Quebecers feel the most confident about the country’s current economy. compared to all other provinces. According to a new Royal LePage survey, conducted by Burson, all Quebec markets recorded year-over-year price gains in the first three months of the year, a trend contrary to the markets in Ontario and British Columbia. Royal LePage expects prices to rise 7 per cent, despite the uncertain economic environment.
“Quebecers are often more optimistic about the economy compared to the rest of Canada,” noted Dominic St-Pierre, senior vice-president of business development, Royal LePage. “For one thing, our real estate market has historically been less subject to major fluctuations, given the relative stability of its immigration and interprovincial migration flows. Quebec is less exposed to the sudden movements that can amplify boom and bust cycles in other major provinces. This contributes to a more positive perception of the market, even in times of uncertainty.”
Of those Quebecers looking to purchase a property this year, almost half (48 per cent) have chosen to postpone their plans as a result of the ongoing trade conflict with the United States, which is in line with the national trend.
“The effects of the trade war with the United States will vary from region to region,” concluded St-Pierre. “However, Quebec can count on a diversified economy, which should mitigate widespread job loss, unlike other Canadian provinces. Although consumer confidence will inevitably be put to the test in 2025, we expect housing needs to support the province’s residential real estate market.”
By region
In the Greater Montreal Area, there was an exceptionally active first quarter followed by a slight moderation entering the spring. The real estate market in Quebec City continues to lead the country in price appreciation, while market trends vary by housing type and region in Gatineau. In Sherbrooke, there is strong price growth, yet buyers are more cautious, while in Trois-Rivières, the market continues to gain momentum, boosted by the effect of cumulative rate cuts.
