fbpx

Login


Register | Recover Password
 

Excerpt from the CMHC 3rd Quarter Housing Market Assessment

Excerpt from the CMHC 3rd Quarter Housing Market Assessment Report July 27 2016 in regard to the Ottawa market:

View full report here: CMHC Third Quarter Housing Market Assessment (PDF)

Ottawa: Weak evidence
of problematic conditions
We continue to detect moderate
evidence of overbuilding in
Ottawa’s housing market. The
number of completed and unsold
condo apartment units per 10,000
population rose steadily until early in
the first quarter this year, pointing to
moderate evidence of overbuilding.
There has, however, been some
decline in the number of completed
and unsold units in recent months,
and the number of apartment units
under construction has also been
declining since the fourth quarter in
2015. Inventory management remains
necessary until the high number
of unsold units is absorbed by the
market. The high number of unsold
units has been accompanied by
rising vacancy rates in purpose-built
and condominium rental markets
pointing to softer demand conditions.
Despite sluggish economic activity,
moderating prices and continued
population growth resulted in weak
evidence of overvaluation

Print

No Comments Yet

Leave a comment or ask a question.

%d bloggers like this: