(Source: CNW Group)

Today, the Real Property Association of Canada (REALpac) and FPL Advisory Group released the results of their Fourth Quarter 2009 Canadian Real Estate Sentiment Survey.

Overall, Canadian real executives’ sentiment on real estate markets has moved up meaningfully over the past quarter, more so than in the U.S. The Canadian Real Estate Sentiment Survey is identical to a survey of real estate executives in the U.S., which allows for a reliable, direct comparison between the two markets. As one respondent put it, “Canada is in far better shape than the U.S. Our banks are in good shape and they’re lending. Unemployment is up, but it’s not too bad. Overall, the fundamentals here are good.”

The Overall Index is measured on a scale of 1-100 and represents an average of the Future Conditions Index and the Current Conditions Index. To register an Index of 100, all respondents would have to answer that they believe conditions are “much better” today than one year ago and will be “much better” one year from now. The Current REALpac/FPL Canadian Real Estate Sentiment Index rose from 50 in July to 68 in October. In the U.S., for the third consecutive quarter, the Real Estate Roundtable Sentiment Survey’s Current Index rose from 38 in January 2009, to 41 in April, to 49 in July, to 63 in October.

More respondents are seeing positive real estate market trends and conditions as compared to Q3 ’09, but any movement is expected to be slow. According to one executive surveyed, “We will see velocity again by Q3 ’10, and a return to normal by 2013”.

Read the full press release, here.

To download a copy of the survey report, please visit the REALpac website, here.

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