Tariffs: A Game Changer for Brant County and Brantford Real Estate?

Tariffs: A Game Changer for Brant County and Brantford Real Estate?

As per usual when Donald Trump speaks it captures attention, this time due to Tariffs…. again. There are significant questions about our  economy,  which sectors will be most impacted and how that will affect Real Estate Values.

We are lucky to live in Brant County and Brantford area, where our market has done well in the major challenges of pandemics and economic downturns.

The Impacts of Tariffs on Real Estate in Brant County and Brantford

Tariffs can have far-reaching consequences and this one is no different. This is not the first time Donald Trump has imposed tariffs on Canada. From June 2018 to May 2019, he imposed tariffs on steel (25%) and aluminum (10%).

The average price for the Brantford Regional Real Estate Board June 2018 was $414,266, (interest rate 1.25%) we then saw a seasonal drop in November of 2018 to $404,328 (interest rate 1.75%) then saw steady increases all the way to May of 2019 (interest rate 1.75%) when average price was $454,046.

Fast forward to February 2022, the peak of our market when average price escalated to $918,202 (interest rate 0.25%) and to today where average price is $695,638 (interest rate 3% down from a high of 5% in April 2024)

Tariffs are expected to put downward pressure on interest rates, when and how much is yet to be determined, but many forecasters suggest it will be necessary to stimulate the economy.

Potential drawbacks of Tariffs:

• Higher Prices for everyday goods imported from the US.

• Sluggish Economic Growth for economy supporting industries, including manufacturing and agriculture.

• Market Uncertainty leading to cautious spending and more hesitation when making large financial decisions.

Opportunities we see:

More Awareness of Buying Local When Possible. Brant area businesses and residents can benefit from increased demand for local goods, services and products. This strengthened local economy positively influences confidence in local spending.

New Business Ventures such as conveniently located produce markets make it easy for residents to shop outside of big box grocery stores who cater to imported products.

Real Estate. Unlike other parts of Ontario, Brant County and Brantford are located in an especially desirable geographic location. Our local housing market has remained one of the most affordable, and the availability of high-quality amenities makes Brant area real estate a solid choice for residents and investors alike.

If you feel like you missed out on the last peak, this spring may be your next best opportunity. 

These conditions can work in your favour in attracting buyers who value and want to protect the wonderful quality of life Brant and surrounding area have to offer. This spring may be the perfect time to act.

Next steps

As with any important decision, consulting a professional who understands the local market dynamics is key to making wise choices. This doesn't have to be overwhelming; we can explain the process in simple, easy-to-understand language, and provide the information that matters most to you.

The first step is to use get a free no obligation Home Evaluation here to determine what your home will sell for in today's market and what homes are  selling for in your neighbourhood. We can also provide information on home prices in neighbourhoods you might consider moving to next. This service is free and comes with no obligation.

You can also call Paula direct at 226-400-6458 for an over the phone consultation.

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