Housing Affordability as well as the Future of Condos
We just received the new CMHC update, which is a very detailed 37 page report covering a whole bunch of topics, including:
- Expectations for the housing market through till 2018
- Population Growth for same period
- Job Creation for the Ottawa area through 2018
- Growth in employment by sector, service sector saw most growth
- Highest Earnings by sector and age group
- Highest number of sales by location
- Highest average price increases by location
- What Age Group earns the highest income
- What age group forms the highest group for renting
As a sneak peek, I can tell you that the areas that saw the most sales in the Greater Ottawa area were: Downtown Ottawa, followed by East End Ottawa, then Nepean, then the West End. The best performing Suburban area for the most sales was Kanata.
The highest price increases were seen in Kanata, followed by Barrhaven, Southeast Ottawa and then Downtown Ottawa.
The age group who formed the most renters group were aged from 25-44 years old.
All this and much much more, This and more reports at CMHC