Local housing starts expected to decline in 2015
Posted Oct 30, 2014 09:51:57 AM.
This article is more than 5 years old.
New home construction in Waterloo Region and Guelph is expected to decline next year before levelling off in 2016.
That’s according to the Canada Mortgage and Housing Corporation in its Fall Housing Market Outlook report.
As for the local resale market, CMHC expects it will remain balanced in Waterloo Region but favour sellers in Guelph.
CMHC Senior Market Analyst Erica McLerie says, “Conditions are favourable for the housing markets. Economic and
migratory conditions will support demand in 2015, but rising mortgage carrying costs will cause demand to ease by 2016.”
