CMHCs Fall 2014 Housing Outlook - Victoria Highlights: Housing starts will increase to 1,825 units in 2015 to meet growing demand before declining to 1,750 units in 2016 as mortgage interest rates edge higher. New home construction is forecast1 to total 1,525 starts in 2014. MLS® sales are expected to increase 12 per cent to 6,350 units in 2014 and maintain similar levels of activity in 2015 and 2016 as the economy and employment improve. Rental vacancy rates will remain relatively stable, increasing marginally to three per cent in 2014, before dipping to 2.7 per cent in 2015 and 2016 as demand balances new supply. Economic fundamentals, including employment and population growth, will support a stable housing market through 2016. READ THE FULL HOUSING OUTLOOK REPORT HERE: cmhc-schl.gc.ca/odpub/esub/64367/64367_2014_B02.pdf
Posted on: Thu, 30 Oct 2014 16:28:31 +0000
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