The Gazette

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Political uncertainty dampens Montreal real estate confidence
The Gazette

The outcome of Quebec’s April 7 election “will be the defining influence” on Montreal’s real estate market until 2015, with consumer confidence currently dampened by “political uncertainty,” Sotheby’s International Realty Canada said.

In an outlook to be released Tuesday, Sotheby’s said Montreal buyers heading into the spring market are likely to put off their purchases until a new provincial government is chosen. Their reticence is linked to recent speculation that a Parti Québécois victory could lead to another referendum on sovereignty, Sotheby’s Canada CEO Ross McCredie said.

“People, when they’re making major decisions like purchasing a home — if there’s uncertainty in the market as to what would happen — they hold off,” McCredie said in an interview.

“What they (Sotheby’s brokers) are seeing is that a lot of people are waiting to see what happens with the election. If the PQ does get in, you probably face a referendum at some point.

“So people start to ask what would happen then. And again, that just gives more uncertainty.”

Les idées économiques du PLQ ne sont guère plus enthousiasmantes que celles du PQ, dans un cas comme dans l’autre, on peut prévoir un déclin de la province. Par contre, il existe une différence fondamentale entre ces deux partis: avec le PLQ, on peut espérer un soft landing alors qu’avec le PQ c’est un référendum et un hard landing assuré. À considérer avant de voter d’une manière qui pourrait contribuer à faire élire un régime péquiste majoritaire.