Ontario Housing Market's Strong Growth Will Continue Through 2017, Says Central 1 Credit Union
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 10/05/15 -- Ontario home prices, sales and starts will keep rising for the next two years, says a new forecast by Central 1 Credit Union.
The surprising strength of the Ontario market this year has led Central 1's Chief Economist Helmut Pastrick to boost his forecast for this year and 2016 and 2017.
"Sales have been strong this year but fewer new listings are coming on the market, so prices are rising in most regions," Pastrick said. "Continued low mortgage rates have helped spur sales."
The outlook is positive for further gains in the housing market against the backdrop of low mortgage rates and some improvement in economic and income growth in 2016 and 2017, Pastrick said.
"Home sales, prices, and starts will head higher," he said. "Despite worsening affordability, the market will expand as long as no economic recession occurs."
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About Central 1
With offices in Vancouver, Mississauga and Toronto, Central 1 - which holds approximately $14 billion in on balance sheet assets - provides wholesale financial products and trust services, along with digital and payment services that power innovation in retail financial services for more than 300 credit unions and institutional clients from coast to coast.
In addition, Central 1 is the primary liquidity manager, payments provider and trade association for our member/owner credit unions in B.C. and Ontario. Our members represent a consumer-oriented, full-service retail financial system that serves 3.3 million members and holds more than $102 billion in assets. For more information, visit .
Contacts:
Helmut Pastrick
Chief Economist
Central 1 Credit Union
604.737.5026 or 1.800.661.6813 ext. 5026
Art Chamberlain
Media Relations Manager
Central 1 Credit Union
905.282.8534 or 1.800.661.6813 ext. 8534
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Datum: 05.10.2015 - 10:00 Uhr
Sprache: Deutsch
News-ID 424568
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TORONTO, ONTARIO
Kategorie:
Commercial & Investment Banking
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