Experts are predicting an impending improvement in the construction of homes in Manitoba in the next two years.
At the Canada Mortgage and Housing Corporation’s Housing Outlook conference Wednesday, CMHC economists and market analysts predicted, thanks to employment growth, development of single-detached homes is expected to rise from 3,400 in 2015 to 3,500 in 2016. This comes after a drop of 18% in 2014 to 3,134 units.
The #Winnipeg vacancy rate
to "Skyrocket" to 3% this year says CMHC
WINNIPEG'S apartment vacancy rate will climb to three per cent next year -- its highest level in 17 years -- the latest forecast from Canada Mortgage and Housing Corporation says.
"Renters will continue to move to home ownership, while fewer new renters will enter the market due to a modest decline in net migration to the city," said Dianne Himbeault, CMHC's senior market analyst for Winnipeg.
How will the Pan Am games impact Toronto real estate?
The 2015 Pan Am and Para Pan Am Games, which are due to kick off in Toronto this summer, could replicate the impact on real estate and development that was seen by Vancouver following the 2010 Olympic Games.
“With the dollar falling the way it is and more Americans coming from places like Chicago to see Canada for the first time, it could spur some investments for sure,” said Simon Clayton, a Realtor with MacDonald Realty.
Home sales fell across the country last month with most of the blame falling on slowdowns in Calgary and Edmonton.
According to statistics compiled by the Canadian Real Estate Association, sales were down 3.1 per cent from December 2014 to January 2015. They were also 2.1 per cent lower during January 2015 than January 2014.