Surveys Suggest Optimism Towards Real Estate

Canada's consumer outlook is experiencing a renewal of strength in regards to real estate and the economy, recent polls showed.

The Bloomberg Nanos Canadian Confidence Index, a blended valuation of financial health and economic expectations, experienced its biggest one week increase since early June, to 48.4 from 46.7, a mere week earlier.

The increase is encouraging after the index had recently stalled, regardless of the country's reopening strategies and active COVID-19 cases remaining relatively scarce. Views on personal finances and job security have remained low, as millions of Canadians are still out of work and collecting government aid. Economists expect the country to still be a few years removed from a full recovery.

Nanos Research surveys 250 Canadians each week. They poll for outlooks on personal finances, job security, and sentiment towards economy and current real estate prices. BNN Bloomberg will then publish the rolling average from the previous month, and of the 1000 participants.

Below are highlights from recent surveys:

- Real estate sentiment persists as the consistently positive indicator, trending upward monthly.

- Views that the economy will be stronger in six months time, increased to 23 percent. This in conjunctiion with retail spending, employment, which could serve as a suggestion that economy has rebounded as reopening plans and strategies have been executed.

- Confidence is lowest for Canadians between the ages of 40 and 49 and highest among those who are 60 and over.

- Twofold blows of a pandemic and a drop in oil prices have resulted in sentiment in the prairies being the lowest and most pessimistic. Quebec recorded the highest degrees of confidence across the country.