Canada’s Residential Construction Industry: Industrial Outlook Summer 2015

This report examines the short-and medium-term economic and profitability outlook for Canada’s Residential Construction Industry.

Document Highlights

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.