Canadian Regional Housing Outlook August 2015
Thanks to our trusted mortgage professional Ramy Ibrahim at TD Canada Trust for this report.
Some highlights are:
- A dop in Canadian borrowing rates through the first half of this year will likely continue to boost housing demand through the summer and early fall months.
- With households rusing to take advantage of record low interest rates and with affordability likely to continue eroding, we expect sales in this year's fastest growing markets to fall back in line with their longer-term average next year, and for price growth to taper off.
- Housing activity in the Prairie region will continue to be constrained by low oil prices, tougher labour market conditions and a rising inventory of homes for sale on the market.
- Weaker demographics are likely to continue to weigh on markets east of Toronto.
Pages 2 and 3 or the report talk about Ontario.