Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

February 06, 2015 08:15 ET

2015-2016 Housing Market Outlook (Province of Quebec)

MONTRÉAL, QUÉBEC--(Marketwired - Feb. 6, 2015) - According to the latest forecasts conducted by Canada Mortgage and Housing Corporation (CMHC), Quebec housing starts will amount to 38,500 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. These two factors will help increase starts of single-detached homes. As for multi-unit housing, starts will go back to a level that is more in line with the demographic trends."

According to CMHC, an increase in resales is expected this year (72,600, from 70,686 last year). For 2016, the federal agency is forecasting 73,400 Centris® resales as more robust labour markets push up demand. However, despite an edging up of demand, the expected supply levels will keep price growth below the 2 per cent mark.

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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