Real Estate — November 8, 2012Ottawa Housing Market to Moderate in 2013
OTTAWA, ONTARIO--(Marketwire - Nov. 8, 2012) - The housing market in the Ottawa Census Metropolitan Area (CMA) will moderate in 2013 with home prices staying in positive territory, according to Sandra Pérez Torres, Canada Mortgage and Housing Corporation's (CMHC) Senior Market Analyst for Ottawa. CMHC presented its latest forecast for the Ottawa CMA today at the annual CMHC Housing Outlook Conference.
This year's conference, entitled 'How does Ottawa measure up?', had market analysts use local CMHC data to answer questions housing-industry professionals hear every day - addressing Ottawans' housing-related concerns.
"Despite public sector reductions, Ottawa's economy will remain stable. However, uncertainty will keep some potential homebuyers on the sidelines in 2013," said Sandra Pérez Torres. "As global and local uncertainty starts subsiding and improving labour conditions spill over in the Ottawa region, both the new and resale home market will resume a stronger rate of growth."
Highlights from today's conference include:
- Resale market sales will slow down but prices will remain positive.
- New home market construction will moderate in 2013, moving in line with demographic fundamentals.
- Demographics and younger household job growth will support a healthy rental market.
"Larger urban Ontario centres have been capturing a growing share of housing activity in recent years. A gradual shift in housing activity is expected as smaller urban housing markets hold up relatively better in 2013," said Ted Tsiakopoulos, CMHC's Ontario Regional Economist. "Housing markets in Windsor, Thunder Bay, Sudbury and London will outperform thanks to an ongoing US economic recovery, relatively more affordable housing and residential construction that is better in line with household formation."
As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.
For more information, visit www.cmhc.ca or call 1-800-668-2642.
Latest Industry Press Releases
Black Diamond Group Limited Announces April Dividend (2014-04-17)
New Affordable Housing Open in Regina (2014-04-14)
|MOST POPULAR STORIES|
- Lafarge’s research tackles cement’s “bad boy” image
- Waterloo Region LRT work agreement almost done
- RFP released to shortlisted teams for Milton hospital expansion
- Upset waters over new Ontario diving regulations
- The Working Dead — construction of a post-apocalyptic zombie world
- 20 Most Popular Stories
|TODAY’S TOP CONSTRUCTION PROJECTS|
These projects have been selected from 371 projects with a total value of $1,936,826,394 that Reed Construction Data Building Reports reported on Thursday.
$134,000,000 Toronto ON Prebid
$128,250,000 North York ON Prebid
$100,000,000 Toronto ON Prebid
- Debate swirls over OCOT’s merit on its anniversary
- WaterGarden Worker
- Ontario to invest in cycling infrastructure
- U.S. construction labour concerns
- Compulsory certification in carpentry a “job killer”, says Kenney
- CaGBC to provide free LEED registration and certification for commercial projects in disaster-hit cities
- Economic cost of weather catastrophes is under appreciated: report
- Scotiabank sees slow growth in housing
- Photo Gallery: 2014 ACEC BC Awards of Excellence winners
- Journal of Commerce Preview for the week of April 21st, 2014
- Making Metro
- Crumbling roads a key election issue
- Early stages of concrete pump operator certification being developed in B.C.
- Legal battle over temporary foreign workers heats up
- Dive tower pushes formwork forward
- Understanding municipal strategy
- Calgary firm fined $35,000 for workplace injury
- B.C. labour minister calls for WorkSafeBC reforms
- B.C. prison proceeding