- Joined
- Aug 22, 2007
- Messages
- 885
When it comes to monitoring and analyzing a real estate market, there is one place you should go for timely information - the source.
We have a copy of CMHC's latest Housing Outlook for Atlantic Canada and Halifax for your investigation pleasure. This is a treat for any investor to be able to dig into this data and find some key insights into the market conditions over the next 12-18 months. Here is a brief summary for you to get a feel for the information contained in the report:
Slow and Steady wins the Race
The market is beginning to show signs of improvement in Atlantic Canada. While overshadowed by its western counterparts, each Atlantic province saw positive population growth during the last census period (2006-2011). Low mortgage rates and low average prices have attracted first-time homebuyers to the housing market and will continue to do so. However, housing starts are expected to decrease slightly due to the number of projects completed in recent years. A balanced real estate market is expected to prevail in 2012, with average house prices recording an increase between 1-4%. Economic growth is expected to remain moderate in the Atlantic Provinces in the next two years, remaining below two per cent.
The real star of Atlantic Canada in the next few years will be Nova Scotia. With the recent announcements of major employment opportunities, namely the Halifax shipbuilding contract, the province will see an influx of migrants. Positive net migration will increase demand for housing over the forecast period; with starts forecast to rise in 2012 and 2013. Expect to see the average housing price climb in the next two years in response to increased demand.
If you're looking for high-risk gains in the real estate market, Atlantic Canada is not for you. However, the region promises to provide investors who complete their due diligence with steady growth in the next several years.
Attached files HOC_2012_Halifax.pdf (3.7 MB)Â
We have a copy of CMHC's latest Housing Outlook for Atlantic Canada and Halifax for your investigation pleasure. This is a treat for any investor to be able to dig into this data and find some key insights into the market conditions over the next 12-18 months. Here is a brief summary for you to get a feel for the information contained in the report:
Slow and Steady wins the Race
The market is beginning to show signs of improvement in Atlantic Canada. While overshadowed by its western counterparts, each Atlantic province saw positive population growth during the last census period (2006-2011). Low mortgage rates and low average prices have attracted first-time homebuyers to the housing market and will continue to do so. However, housing starts are expected to decrease slightly due to the number of projects completed in recent years. A balanced real estate market is expected to prevail in 2012, with average house prices recording an increase between 1-4%. Economic growth is expected to remain moderate in the Atlantic Provinces in the next two years, remaining below two per cent.
The real star of Atlantic Canada in the next few years will be Nova Scotia. With the recent announcements of major employment opportunities, namely the Halifax shipbuilding contract, the province will see an influx of migrants. Positive net migration will increase demand for housing over the forecast period; with starts forecast to rise in 2012 and 2013. Expect to see the average housing price climb in the next two years in response to increased demand.
If you're looking for high-risk gains in the real estate market, Atlantic Canada is not for you. However, the region promises to provide investors who complete their due diligence with steady growth in the next several years.
Attached files HOC_2012_Halifax.pdf (3.7 MB)Â