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CMHC Releases 2011 Canadian Housing Observer Print E-mail

Marketwire

finance.yahoo.com Jan 03, 2012

a Comprehensive Report on the State of Housing in Canada

OTTAWA, ONTARIO--(Marketwire -12/29/11)- Housing-related spending accounts for more than 20 per cent of Canada's Gross Domestic Product, contributing about $330 billion to the Canadian economy in 2010 - up 7.1 per cent from $308 billion in 2009. This and other key findings are in the ninth annual Canadian Housing Observer, released today by Canada Mortgage and Housing Corporation (CMHC).

"The Observer is unique in its in-depth review of housing conditions and trends, including developments - both domestic and international - that influence housing finance and housing market developments in Canada," said Karen Kinsley, President of CMHC. "The Observer's data provides insight into Canadian residential mortgage practices and housing market trends, while highlighting the importance of housing in this country."

The 2011 Observer looks at other important housing data including:

 
--  The anticipated growth in the influence of seniors on the housing market
    in the future as their share of the population rises from about 14 per
    cent to almost 24 per cent by 2036;
--  How urban core housing need improved between 2002 and 2008 as 87 per
    cent of urban Canadian households either had, or could afford,
    acceptable housing in 2008;
--  How low interest rates, coupled with a small inventory of existing homes
    for sale, helped push the average MLS price up by 5.8 per cent in 2010
    to $339,042; and
--  How condominiums accounted for one-third of all housing starts in major
    Canadian urban centres in 2010, compared with 29 per cent in 2009.

Online, users can access a broad range of statistical information on housing conditions from national, regional and local perspectives. New this year is the launch of additional online interactive tables featuring housing data at the local level for more than 100 selected municipalities. The online publication and data are available at www.cmhc.ca/observer. Please refer to the attached table for a sample of the wide range of key national housing data available in the Observer.

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.

Selected Housing Indicators, Canadian Municipalities, 2006

 ----------------------------------------------------------------------------
                  % of     % of     % of    Condo-     % of    % of     % of
                house-    home-    home-    minium  housing   hous-   house-
                 holds   owners   owners     share    stock     ing    holds
                   who  without    under        of built in   stock  in core
                   own    mort-       35      home  1960 or   built  housing
                 their    gages             owner-  earlier   after     need
                 homes                        ship             1980
                                            market
                                               (%)
----------------------------------------------------------------------------
Canada              68       42       12        11       27      39     12,7
----------------------------------------------------------------------------
Municipalities
----------------------------------------------------------------------------
St. John's          64       39       12         5       29      35     16.4
Charlottetown       53       45        9         1       30      34     16.6
Halifax             64       37       12         7       25      43     13.6
Cape Breton         75       55        7         0       46      25     16.2
Fredericton         61       45       12         3       29      34     13.9
Moncton             59       38       16         3       32      38     13.3
Saint John          56       45       10         5       46      19     12.5
Québec              52       41       11        15       28      36     10.8
Trois-Rivières      56       44        9         4       29      37     12.9
Sherbrooke          49       38       13         5       25      40     10.2
Saguenay            62       40       11         2       31      32      8.3
Longueuil           53       38       10        13       21      32     12.9
Montréal            34       43       10        24       46      21     17.6
Laval               69       37       11        10       17      43      8.8
Gatineau            64       32       15         8       18      47     10.8
Ottawa              66       40       12        17       22      42     12.9
Kingston            62       44        9         8       29      38     13.9
Oshawa              70       36       12         7       30      30     14.6
Toronto             54       46       10        26       39      25     23.7
Hamilton            68       43       10        11       41      29     15.0
London              62       39       13        16       29      35     13.8
Sudbury             67       44       11         1       36      26     10.0
Kitchener           64       36       16        10       25      39     12.1
Windsor             67       41       15         8       45      26     15.7
St. Catharines      69       47       10        10       38      23     13.4
Thunder Bay         71       47       10         4       45      22     11.5
Winnipeg            65       41       14         8       40      24     10.9
Regina              68       43       16        10       28      28      9.9
Saskatoon           64       40       16        15       24      36     10.0
Calgary             73       33       18        19       14      50      9.4
Edmonton            63       40       17        20       21      39     12.3
Vancouver           48       47       12        37       32      41     20.6
Victoria            40       42       12        45       38      25     20.0
Kelowna             72       44       10        27       10      55     12.1
Whitehorse          67       32       14         7       14      44     15.2
Yellowknife         54       22       20        18        6      60      9.5
Iqaluit             23       23       24         7        2      70     25.2
----------------------------------------------------------------------------
Source: CMHC, adapted from Statistics Canada (Census of Canada) and CMHC
 (census-based housing indicators and data)

Contact:


Charles Sauriol
Senior Media Relations Officer, CMHC
613-748-2799
This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 
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