Ontario Housing Activity to Fuel Renovations

(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 09/27/16 -- Ontario's renovation spending is set for additional growth, according to Canada Mortgage and Housing Corporation's (CMHC) latest report.

Current estimates suggest that the average homeowner equity in Ontario has grown by 14 per cent since 2012(i). Most of this growth in home equity is concentrated among aging households. When rising prices boost home equity, households feel wealthier and thus are encouraged to invest in their homes.

Report Highlights

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QUOTES

"Although the average growth rate of home renovations is not likely to match that of the last couple of decades, the province is still set to see an increase. Ontarians are aging, the housing stock is aging, home prices are on the rise and more homebuyers are turning to the resale market -- all these factors support renovation spending."

- Ted Tsiakopoulos, Regional Economist (Ontario), Canada Mortgage and Housing Corporation

(i) Equifax Canada Data, 2012-2016, Stats Canada and Canadian Real Estate Association (CREA).

To view the graph associated with this release, please see the following link:





Contacts:
Canada Mortgage and Housing Corporation
Angelina Ritacco
Public Affairs
(416) 218-3320

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Bereitgestellt von Benutzer: Marketwired
Datum: 27.09.2016 - 13:00 Uhr
Sprache: Deutsch
News-ID 497285
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