{"id":24563,"date":"2020-04-10T09:31:45","date_gmt":"2020-04-09T21:31:45","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=24563"},"modified":"2020-04-10T09:31:53","modified_gmt":"2020-04-09T21:31:53","slug":"canadian-real-estate-markets-hit-hard-by-pandemic","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/canadian-real-estate-markets-hit-hard-by-pandemic\/","title":{"rendered":"Canadian real estate markets hit hard by pandemic"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>PHOTO: A pedestrian walks across an empty street in Toronto with a mask and gloves as protection against COVID-19. (Evan Mitsui\/CBC) <\/strong><\/p>\n\n\n\n<p class=\"has-drop-cap wp-block-paragraph\">Vancouver real estate agent David Hutchinson pulls out some bright blue medical gloves and tugs them onto his hands before entering a condo that&#8217;s coming onto the market.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;It&#8217;s uncharted territory, a completely different ballgame, and we&#8217;re learning everything on the go,&#8221; he said&nbsp;as he got his cellphone ready to do a virtual showing from the empty unit.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Welcome to selling real estate during a pandemic.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">While Hutchison&nbsp;continues to work, albeit with adjustments, Canada&#8217;s real estate industry appears to be heading into a deep freeze despite the warming spring weather. Though sales figures started off relatively strong in March in many parts of the country, they fell swiftly&nbsp;as the COVID-19 pandemic grew and stricter protective measures were put in place.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Greater Vancouver&#8217;s real estate board, for example, released figures showing sales for the month overall were up 46 per cent&nbsp;compared to last March.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>INTERACTIVE&nbsp;|&nbsp;<a href=\"https:\/\/newsinteractives.cbc.ca\/coronavirustracker\/\">Coronavirus tracker: 18,000+ cases in Canada on Wednesday<\/a><\/strong><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">But by the end of the month, weekly statistics showed a dramatic slowdown, falling by about half compared to the first part of the month.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It was the same in Toronto, where home sales were up 49 per cent in the first 14 days of March compared to last year, but they plummeted by 16 per cent as the month closed.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" data-src=\"https:\/\/i.cbc.ca\/1.5526313.1586369372!\/fileImage\/httpImage\/image.jpg_gen\/derivatives\/original_780\/toronto-real-estate-sales-march-2020.jpg\" alt=\"\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" \/><figcaption>This graphic shows how real estate sales tumbled in Toronto&#8217;s 416 area code as the epidemic took hold.&nbsp;(Scott Ingram)<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Hutchison thinks April &#8220;is just going to fall off a cliff.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">READ MORE VIA <a href=\"https:\/\/www.cbc.ca\/news\/canada\/british-columbia\/canadian-real-estate-markets-hit-hard-by-pandemic-1.5525681\">CBC<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">RECENT POSTS<\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/propertynoise.co.nz\/au\/aerial-photos-reveal-playboy-mansions-massive-face-lift\/\">Aerial photos reveal Playboy mansion\u2019s massive face-lift<\/a><\/li><li><a href=\"https:\/\/propertynoise.co.nz\/au\/brett-lee-buys-9m-landmark-of-primo-smallgoods-heir-bradley-hunt\/\">Brett Lee buys $9m landmark of Primo Smallgoods heir Bradley Hunt<\/a><\/li><li><a href=\"https:\/\/propertynoise.co.nz\/au\/melbourne-rental-market-at-tipping-point\/\">Melbourne rental market at tipping point<\/a><\/li><li><a href=\"https:\/\/propertynoise.co.nz\/au\/national-housing-market-update-april-2020\/\">National Housing Market Update | April 2020<\/a><\/li><li><a href=\"https:\/\/propertynoise.co.nz\/au\/how-17000-australians-plan-to-stop-paying-rent-this-month-and-theres-nothing-landlords-can-do-about-it\/\">How 17,000 Australians plan to stop paying rent THIS MONTH \u2013 and there\u2019s nothing landlords can do about it<\/a><\/li><li><a href=\"https:\/\/propertynoise.co.nz\/au\/the-bottom-is-about-to-fall-out-the-aussie-property-market-heres-why\/\">The Bottom Is about to Fall out the Aussie Property Market. Here\u2019s Why\u2026<\/a><\/li><li><a href=\"https:\/\/propertynoise.co.nz\/au\/a-guide-to-the-australian-property-market-during-covid-19-domain\/\">A guide to the Australian property market during COVID-19 | DOMAIN<\/a><\/li><li><a href=\"https:\/\/propertynoise.co.nz\/au\/biggest-threat-to-australia-from-coronavirus\/\">Biggest threat to Australia from coronavirus<\/a><\/li><li><a href=\"https:\/\/propertynoise.co.nz\/au\/real-estate-agents-abused-as-coronavirus-rent-strike-grows\/\">Real estate agents \u2018abused\u2019 as coronavirus rent-strike grows<\/a><\/li><li><a href=\"https:\/\/propertynoise.co.nz\/au\/the-fight-to-keep-as-many-agents-employed-as-possible\/\">The fight to keep as many agents employed as possible<\/a><\/li><li><a href=\"https:\/\/propertynoise.co.nz\/au\/this-is-going-to-change-the-entire-real-estate-industry-australia\/\">\u2018This is going to change the entire real estate industry\u2019 | AUSTRALIA<\/a><\/li><li><a href=\"https:\/\/propertynoise.co.nz\/au\/special-report-sky-news-evidence-mounts-covid-19-came-from-a-lab-in-wuhan-watch\/\">SPECIAL REPORT SKY NEWS: Evidence mounts COVID-19 came from a lab in Wuhan | WATCH<\/a><\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO: A pedestrian walks across an empty street in Toronto<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/canadian-real-estate-markets-hit-hard-by-pandemic\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":24564,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478099933,478109265,478108580,478108952,478109267,478101126,478101165,478109266],"class_list":["entry","author-data123nz","post-24563","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-canada","tag-canadian-property","tag-coronavirus","tag-covid-19","tag-david-hutchinson","tag-toronto","tag-toronto-realtor","tag-vancouver-property"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - 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