Real Estate — November 5, 2012Ottawa Housing Market Will Moderate in 2013
OTTAWA, ONTARIO--(Marketwire - Nov. 5, 2012) - According to Canada Mortgage and Housing Corporation's (CMHC) Housing Market Outlook, Fall 2012 edition for the Ottawa Census Metropolitan Area (CMA), the year will end with new home construction higher than 2011 levels. Activity will moderate into the first half of next year, before improving in the second half of the year. Unprecedented growth in apartment starts in mid-2012 had boosted multi-start activity, which are set to return to trend levels over the forecast horizon explaining the moderation.
"While new mortgage rules together with higher home prices will limit first-time homebuyer demand of single-detached units, some buyers will be able to substitute into more affordable high-density dwellings. The gradual improvement in job and income growth during the latter part of 2013 should continue to support demand for housing in Ottawa," said Sandra Pérez Torres, CMHC's Senior Market Analyst.
MLS® sales in the Ottawa CMA will moderate further in 2013 compared to this year and price growth will remain positive, albeit increasing at a slower rate. Balanced market conditions are expected to prevail over the forecast horizon with the modest growth in prices encouraging both those homeowners who wish to list their properties, and would-be buyers who wish to enter the ownership market.
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.
(Ce document est aussi disponible en français)
Latest Industry Press Releases
Superior Plus Announces March 2014 Cash Dividend (2014-03-06)
Retrocom REIT Announces 2013 Results (2014-03-06)
|MOST POPULAR STORIES|
|TODAY’S TOP CONSTRUCTION PROJECTS|
These projects have been selected from 527 projects with a total value of $1,552,331,732 that Reed Construction Data Building Reports reported on Friday.
$120,000,000 Oakville ON Tenders
$48,225,000 Etobicoke ON Prebid
$40,000,000 Ottawa ON Negotiated
- CCA96th: Unlocking Canada's Potential
- VIDEO: LiUNA Local 183 Training Centre introduces new programs
- Wins delivered on infrastructure front: Rizzardo
- Behind the Velodrome’s Veil
- Ontario’s prompt payment bill needs work but supported
- Southwest L-evation
- Post-bid clarifications make feds liable for bid repair
- Panama Construction Fact for Today
- Ritchie Bros. hold first Canadian auction of 2014
- Skilled labour needs changing in Saskatchewan
- Quebec’s construction momentum ebbs after 15 years of expansion
- VIDEO: Canadian Construction Association conference Panama preview
- Concerns raised about P3 approach for Saskatchewan schools
- Journal of Commerce Preview for the week of March 10th, 2014
- Wood Design Awards
- Outgoing chair reflects on time at the helm of the CCA
- School board asks for traditional procurement
- Site Services in Vancouver
- Looking to improve contract awards
- Environmental verdict riles Taseko
- Prentice to mediate First Nations agreements
- CAWIC funded to create action plan to attract women
- More video surveillance used on construction sites
- Modular workforce housing meets Alberta Building Code standard
- Manitoba outlines infrastructure plan
- BC Hydro posts RFQ for Site C project