Hope Street?s team is fielding numerous calls from landlords recently, all of whom seem to be asking whether or not now is a good time to sell their rental properties.
On one hand, the sellers are concerned that selling now is a great move because one cannot be sure if the current dip in oil prices will continue, which will inevitable translate into further depression in house prices.
Conversely, we observe that the price of oil (main economic driver of Alberta) seems to have stabilized in the recent short term and pricing in the $50 per barrel range will be a significant improvement over the past 18 - 24 months. This condition should imply that house prices will see a moderate improvement, and a stabilization in the short term. This implies that prudent landlords who hold on will have a upside swing to enjoy.
We believe that house prices will get worse before they get better, and as a prudent investor selling now may be a reasonable option.
Hope Street is an industry leading Edmonton and Calgary property management company whose services include property management, executive management, investment sales, and leasing.
If you have any further interest in the topic of today?s blog post, please contact our leasing manager, Nathan Luu at 403-870-8857 or nathan@HopeStreet.ca