Canada’s Residential Construction Industry: Industrial Outlook Summer 2015
The Conference Board of Canada, 11 pages
October 13, 2015
This report examines the short-and medium-term economic and profitability outlook for Canada’s Residential Construction Industry.
- Mortgage Rates—The Bank of Canada has reduced interest rates twice this year—in January and again in July. Mortgage rates are at a historical low and will continue to support the housing market in the near term.
- Unsold in Toronto—The number of completed and unoccupied condos in the Toronto metropolitan area has doubled from last year to reach a 20-year high—a sign that the market may be saturated.
- Renovation—Residential renovation investment was especially strong last year, with the largest annual increase since 2007.