Housing Activity Will Continue To Increase Through 2015

According to the Canada Mortgage and Housing Corporation, housing activity in Ontario is expected to continue to increase through the rest of 2015 before slowing down next year.

“An improving economy will be more supportive of the Ontario housing market in 2015 than it has been in the recent past,” said the Ontario Regional Economist for the Canada Mortgage and Housing Corporation, Ted Tsiakoloulos. “However, as mortgage carrying costs continue to grow, particularly for single family homes, demand will increasingly shift to more affordable housing.”

Annual home starts in the province is projected at between 56,800 and 64,200 units for this year, and between 54,500 to 63,600 units next year.

Resale markets neighbouring the Greater Toronto Area are expected to see stronger demand, while a stronger preference for higher density dwellings are also expected.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s