TD Economics has released its Canadian Regional Housing Outlook report, finding that you can easily categorize the Canadian housing markets into three separate categories: Struggling, booming and stable.
“Struggling” includes the major markets in Alberta and Saskatchewan (Regina, Saskatoon, Edmonton, Calgary), “booming” includes Toronto and Vancouver as well as the surrounding areas of each city, and “stable” covers the rest of Canada.
Vancouver and Toronto are the only markets in the country with average home prices between $500,000 and $1,000,000, where the new mortgage rules demanding higher down payments for homes in these prices ranges are expected to have any impact. In addition, the report said that, “Toronto and Vancouver are heading into 2016 with considerable momentum,” and that the average home price in Toronto increased by 14.1 per cent in January 2016 over January 2015.
For more, check out the full TD Economics report here