In the last quarter of 2019, house prices increased by a minuscule 0.32% (0.14% inflation-adjusted). However prices are expected to take off soon. Construction has fallen, inventory is low, yet demand is rapidly rising, partly in response to strong immigration.
Real estate can refer to land itself (real property), including what grows or is built on the land; ownership of real property; and the real estate business, i.e., brokers, agents, builders, developers, property managers, mortgage lenders, investors, consultants and appraisers who work in the real estate industry.