CMHC Releases its 2016 Q1 Housing Market Assessment Report for Canada and 15 Markets
(firmenpresse) - OTTAWA, ONTARIO -- (Marketwired) -- 01/27/16 -- Canada Mortgage and Housing Corporation's (CMHC) latest Housing Market Assessment (HMA) 2016 Q1 reports moderate evidence of overvaluation in housing markets across the country. Broken down across the 15 centres covered by the HMA, overvaluation and overbuilding are the most prevalent problematic conditions with overvaluation detected in eight centres and overbuilding in seven centres.
"The evidence of overbuilding has increased since the previous assessment in Calgary, Saskatoon, Regina, and Ottawa due to either higher vacancy rates, high inventory of new and unsold units, or a combination of both. As more centres are now showing problematic overbuilding conditions, inventory management is becoming more important," said Bob Dugan, CMHC's Chief Economist.
The HMA points to strong overall evidence of problematic conditions in Calgary, Saskatoon, and Regina due to the detection of overvaluation and overbuilding. Low oil prices are impacting Alberta and Saskatchewan, weakening demographic and economic fundamentals such as migration, employment, and income, which are in turn affecting housing markets.
In Toronto, overall strong evidence of problematic conditions reflects a combination of price acceleration and overvaluation. We are also monitoring for the potential emergence of overbuilding in Toronto due to the high number of condominium units under construction. Inventory management therefore continues to be necessary to make sure that these condominium units under construction do not remain unsold upon completion.
In Winnipeg, the evidence of problematic conditions has been lowered from strong to moderate. This is due to the evidence of overvaluation being reduced with improving economic and demographic fundamentals.
The HMA evaluates the extent to which there is evidence of problematic housing market conditions in 15 Census Metropolitan Areas (CMAs). The results released today include those for the national market as well as 15 Census Metropolitan Areas (CMAs) - Victoria, Vancouver, Edmonton, Calgary, Saskatoon, Regina, Winnipeg, Hamilton, Toronto, Ottawa, Montreal, Quebec, Moncton, Halifax, and St. John's.
The HMA analytical framework is designed to assess housing market conditions by taking into consideration the economic, financial and demographic drivers of housing markets. The use of multiple indicators of housing conditions, which incorporate various data sources and price measures, provides a robust picture of overall housing market conditions.
Additional information explaining the results for the 15 CMAs is available in the attached backgrounder. The full text of the January 2016 HMA report is available at .
The next Housing Market Assessment report is scheduled to be released on April 27, 2016.
As Canada's authority on housing, CMHC continually works to increase the amount of available data and analysis on the housing market.
CMHC draws on 70 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.
BACKGROUNDER
CMHC's HMA analytical framework is designed to evaluate the extent to which there is evidence of problematic housing market 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 October 2015 and the current January 2016 release.
To view the table associated with this release, please visit the following link: .
For more information, follow CMHC on , , and .
Contacts:
Jonathan Rotondo
CMHC Media Relations
(613)748-2734
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 27.01.2016 - 17:00 Uhr
Sprache: Deutsch
News-ID 446914
Anzahl Zeichen: 0
contact information:
Town:
OTTAWA, ONTARIO
Kategorie:
Commercial Real Estate
Diese Pressemitteilung wurde bisher 261 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"CMHC Releases its 2016 Q1 Housing Market Assessment Report for Canada and 15 Markets"
steht unter der journalistisch-redaktionellen Verantwortung von
Canada Mortgage and Housing Corporation (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
