Strong evidence of overall problematic conditions despite some housing markets showing signs of improvement
(firmenpresse) - OTTAWA, ONTARIO -- (Marketwired) -- 04/26/17 -- Conditions in Canada''s housing markets are showing some signs of improvement but the official overall rating from the Canada Mortgage and Housing Corporation (CMHC) will be held at "strong evidence of problematic conditions".
On a quarterly basis, CMHC issues its (HMA) to provide Canadians with both expert and impartial insight and analysis, based on the best data available in Canada. This report acts as an "early warning system" for the country''s housing markets - an important tool supporting financial and housing market stability.
Report highlights:
CMHC defines "problematic conditions" as imbalances in the housing market. Imbalances occur when overbuilding, overvaluation, overheating and price acceleration - or combinations thereof - depart significantly from historical averages. For examples, please consult the Overview section of the national report.
The complete HMA, including national, regional and CMA insight and analysis, is available on our .
In order to access future Market Analysis Centre publications from CMHC, please subscribe to .
This release includes .
As Canada''s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.
For more information, visit our or follow us on , , and .
QUOTES
"While the overall assessment for Canada has not changed from the previous quarter, the level of overvaluation has been downgraded to moderate. Regionally, eastern markets show weak evidence of overvaluation while this factor is stronger in western centres and markets in southern Ontario where economic fundamentals have not kept pace with recent price growth."
Bob Dugan, Chief Economist, Canada Mortgage and Housing Corporation
"CMHC''s latest Housing Market Assessment continues to show strong evidence of problematic housing market conditions in Victoria. The last quarter of 2016 was dominated by strong sales and low supply which pushed house prices beyond levels that are supported by fundamentals such as income and population growth. For these reasons, we detected increased evidence of overvaluation in the Victoria market."
Eric Bond, Senior Market Analyst (Victoria), Canada Mortgage and Housing Corporation
"Rapid growth in house prices above rates warranted by economic and demographic fundamentals such as income and population growth has meant the continued detection of problematic conditions in the Toronto CMA housing market."
Dana Senagama, Principal Market Analyst (Toronto), Canada Mortgage and Housing Corporation
Backgrounder
CMHC''s HMA analytical framework is designed to evaluate the extent to which there is evidence of problematic conditions in Canadian housing markets. The framework assesses housing market conditions and considers the incidence, intensity and persistence of four main factors:
Each of these factors is measured using one or more indicators of housing demand, supply and/or price conditions. Table 1 outlines the results from the previous release in January 2017 and the current April 2017 release.
To view Table 1, please visit the following link:
Contacts:
Jonathan Rotondo
Media Relations
(613) 748-2734
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Datum: 26.04.2017 - 10:01 Uhr
Sprache: Deutsch
News-ID 1500690
Anzahl Zeichen: 4025
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Commercial Real Estate
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