Canada’s Major Housing Markets’ Speed of Recovery to Vary
Significant employment and income declines, coupled with uncertainty over the future trajectory of the virus and employment and income conditions, will lower demand for housing in 2020.
Canada Rental Vacancy Rates are Down, Cost of Rent Increases
According to CMHC’s 2019 Rental Market Survey, the average vacancy rate for the secondary rental condominium apartments across surveyed centres dropped to 1%.
National Vacancy Rate Declined for a Third Consecutive Year
Low vacancy rates in major centres over the past year underline the need for increased rental supply to ensure people in Canada have access to affordable housing.
How Much Can Ontario Landlords Raise the Rent in 2020?
Every year the government of Ontario announces what is called the “Rent Increase Guideline” for the next calendar year.
The Rent Increase Guideline means how much a landlord can increase the rent without having to go to the Landlord and Tenant Board. (If the you want to raise the rent higher than the guideline you must get approval by the Board to do so.)
Canada’s housing markets not as vulnerable as prices fall more than 5%, CMHC Report
For the first time in 2.5 years, Canada Mortgage and Housing Corporation has rated the housing market as only moderately vulnerable, indicating the hot conditions characterized by bidding wars and sky-high prices may be cooling off a little.
Making Housing more Affordable: Canada’s First-Time Home Buyer Incentive
The recent federal Budget proposed a series of incentives that demonstrates the government’s commitment to housing affordability, and CMHC is proud to take a leading role in many of them. We know that you’re particularly anxious for details regarding the new First-Time Home Buyers Incentive (FTHBI).
Government of Canada to Build Safe and Affordable Housing in Woodstock
According to the Canada Mortgage And Housing Corporation (CMHC): Every Canadian deserves a safe and affordable place to call home. That is why, in May 2018, the Government launched the National Housing Co-Investment Fund (NHCF), the largest program of its kind in Canadian history.
Canadian Housing Starts Trend Held Steady in January
The trend in housing starts was 208,131 units in January 2019, compared to 207,171 units in December 2018, according to Canada Mortgage and Housing Corporation (CMHC). This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
Fall Economic Statement
Today’s Economic Outlook And Fiscal Review demonstrated that the Ford Government is taking a considered, measured and strategic approach to meeting the province’s housing challenges – including matters of affordability – while recognizing the need to create an environment that encourages the development of new, purpose-built rental housing.
Housing Market Activity to Moderate in 2019 and 2020: CMHC Report
Canada’s housing markets should see a moderation in both housing starts and sales while house prices are expected to reach levels that are more in line with economic fundamentals such as income, job and population growth.