CMHC's 2012 Manitoba Housing Outlook Conference

WINNIPEG, MANITOBA--(Marketwire - Feb. 21, 2012) - Manitoba's housing market was discussed today at the Canada Mortgage and Housing Corporation (CMHC) annual Manitoba Housing Outlook Conference. The event, held at the Delta Hotel in Winnipeg, attracted 200 housing industry representatives to hear CMHC experts present on economic, demographic, and other factors impacting Manitoba's major housing markets.

Manitoba's housing demand will be fuelled by population growth in 2012 and 2013. Net migration is projected to remain elevated, adding more than 10,000 people to the province each year. "Single-detached housing starts will to remain close to 2011 levels with 3,850 starts in 2012 and 3,900 starts in 2013," noted Lai Sing Louie, Regional Economist for the Prairie and Territories Region. "In the multi-family market, builders across the province set a 24-year record with 2,252 starts in 2011," said Louie, adding "this elevated activity will continue with 2,300 units in 2012 and 2,350 units in 2013."

In 2011, the number of resale transactions in Manitoba totalled 13,944 units, almost six per cent above the previous year and surpassing the record set in 2007. "Population gains will continue to feed demand as more buyers enter the market, and existing homeowners will look to move up in the market," says Dianne Himbeault Senior Analyst for Winnipeg. In 2012 and 2013, sales will rise two per cent per year. With supply rising to meet demand, it is expected that price gains moderate to around three per cent in each year.

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.