Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

May 25, 2015 08:15 ET

2015-2016 Housing Market Outlook (Province of Quebec)

MONTRÉAL, QUÉBEC--(Marketwired - May 25, 2015) - According to the latest forecasts conducted by Canada Mortgage and Housing Corporation (CMHC), Quebec housing starts will moderate this year and increase slightly next year.

"A gradual acceleration of 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, eventually translating into higher levels of housing starts," according to Kevin Hughes, CMHC Regional economist for the province of Quebec.

Starts of single detached houses will be situated within the 10,500 and 11,900 range in 2015 and within the 12,000 and 14,000 range in the following year. As the resale market tightens, demand will progressively increase.

Starts of multiple units will lie within a range of 22,500 to 25,500 units this year. In 2016, activity in the retirement home market segment will contribute to an increase in multi-unit starts. As a result, between 24,800 and 28,900 units are forecast for 2016.

Sales of existing homes recorded by Centris®(1) should increase slightly this year and next, in line with employment growth. Between 68,000 and 75,000 transactions are thus expected this year. Following this increase, slightly more robust labour markets will shift the forecast range next year. Between 68,500 and 76,000 sales are expected in 2016.

Prices of resale homes will post growth ranging from -2.2 per cent to 5.3 per cent in 2015, and from -3.7 per cent to 8.4 per cent in 2016. As a result, the average price recorded by Centris® will range from $260,000 to 280,000 in 2015 and from $262,000 to $295,000 in 2016.

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

(1) The Centris® system contains all listings of real estate agents in Quebec.

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Contact Information

  • Catherine Leger
    CMHC - Communications
    514 283-7972
    Cell: (514) 475-5165
    cleger@cmhc.ca