Canada's bubble will not burst says jll boss

Fears that the Canadian property market may be about to crash are unfounded, a leading property agency told OPP this week.  

According to Jeff Mayes, the Vice President of Jones Lang Lasalle Canada, there is no prospect of a bubble hitting the Toronto or Montreal markets.  

"There is a greater risk of a gentle landing in Toronto," as prices dip a bit, says Mayes, but "Montreal prices should hold or increase slightly."   Speaking exclusively to OPP, Mayes agreed with scare stories circulating in the Canadian media that the country's house market is looking vulnerable. "Yes, no question about it, I agree that interest rates and unemployment rates are the 2 most important factors" in keeping confidence levels high, says Mayes. 

Source: OPP.org.uk