Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

October 30, 2014 08:15 ET

2014-2015-2016 Housing Market Outlook (Province of Quebec)

MONTRÉAL, QUÉBEC--(Marketwired - Oct. 30, 2014) - According to the latest forecasts conducted by Canada Mortgage and Housing Corporation (CMHC), Quebec housing starts will amount to 38,200 units in 2014, 39,000 units in 2015, and 40,100 units in 2016.

According to Kevin Hughes, CMHC Regional economist for the province of Quebec, "A gradual pick up in Quebec's economic growth over the next two years will provide some stimulus to housing demand in 2015 and 2016. During this period, resale markets will tighten somewhat, which will help sustain housing starts. However, despite an edging up of demand, the expected supply levels will keep price growth below the 2 per cent mark."

Following an increase in sales next year (72,600, from 70,900 this year), buying conditions in 2016 will be somewhat impeded by slightly higher interest rates. Nonetheless, 73,400 Centris® resales will be achieved in 2016 as more robust labour markets push up demand. Prices of resale homes will post marginal growth during the next two years (see table).

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.

CMHC Market Analysis standard reports are also available free for download at http://www.cmhc.ca/housingmarketinformation.

Follow CMHC on Twitter @CMHC_ca

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A table is available at the following address: http://media3.marketwire.com/docs/975838_ENG.pdf

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