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Victoria BC And The Canadian Consumer Confidence

We have a new budget. What do you think about it? Let us know, we would love to hear about your thoughts. A recent article in The Times Colonist talks about the Consumer Confidence in Canada and this is of course of interest to us how it will effect the Victoria Real Estate market. The article reads:

Mood of Canadian consumers improves slightly

The mood of Canadian consumers appeared to improve slightly in January, although sentiment is still at levels not seen since previous recessions, according to a monthly survey released yesterday.

“Although consumers continued to expect unfavourable employment conditions in their communities six months from now, they did indicate that they believed their financial situation was beginning to improve,” the Conference Board of Canada said in releasing its survey, suggesting that the fall in gasoline prices may have contributed to the improvement. “Moreover, for the fourth consecutive month, a greater number of respondents said now was a good time to make a major purchase.”

The board’s index of consumer confidence edged up 2.5 points to 70.2 this month. “Despite the slight increase, the index remains at levels consistent with those seen during other times of economic recession in Canada,” it said. The level of confidence is also down from nearly 90 last summer and nearly 100 at the start of last year.

Quebec, Atlantic Canada, Ontario and British Columbia all saw small gains in January, the board said, while the Prairie provinces recorded declines in sentiment.

The proportion who said their family’s financial situation was better than six months ago edged up to 13.3 per cent in January from 12.5 the month before, while the percentage that said they were worse off slipped to 24.8 from 26.5.

Still, nearly 60 per cent said their financial situation was unchanged, which “indicates that the majority … believe they have been largely unaffected by the economic turmoil in Canada.”

The proportion expecting their finances to improve over the coming six months also edged up 0.8 but to just 22.2 per cent, while those thinking they will worsen fell 2.1 points more than one quarter. Just over half expected no change.

However, there was no improvement on the job expectations front, with the proportion expecting an increase in jobs in their communities edging up 0.4 to 7.6 per cent but with the proportion expecting fewer jobs also rising 0.4, and to 50.9 per cent.

The survey is claimed to be accurate within 2.19 percentage points 19 times out of 20.

If you are planning to purchase real estate in 2009, just let us know. Our team of professionals has the knowledge and know how. Contact Bill or David at Properties In Victoria Professional™ team. You can consult their Victoria Real Estate website or just email Bill and Dave .


Cheers, Bill

Properties in Victoria Professionals- Royal LePage Coast Capital Realty

Bill has been a REALTOR® in Victoria since 2006. Originally from the Vancouver area, Bill moved to Victoria to attend the University of Victoria where he received his Bachelor of Science. Not only does Bill have a wealth of real estate knowledge he is also an active member of the community. He is a member of Triple Shot Cycling Club, Island Road Racers and is the Race Director for the Sooke River 10K.

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