Real estate

On the basis of a sample of structures common to both the  2012 and 2013 surveys, the average rent for  two-bedroom  apartments  increased  by  1.7  per  cent  in  the  province.  This  rate  reflects  those observed for the other bedroom types.

Municipalities issued building permits worth $7.2 billion in October, up 7.4% from September. This followed a 4.1% rise in the previous month. The total value of permits showed a slight upward trend on the strength of eight monthly increases since the beginning of the year.

CMHC expects total housing starts to be stable in 2014, as fundamentals, such as employment growth and migration, continue to support the Canadian housing market. On the new home market, builders are nevertheless expected to limit the number of housing starts, while inventories of unabsorbed units, completed and under construction, are drawn down.

The number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations and other co-operative listing systems fell 3.2 per cent on a month-over-month basis in October 2013. The decline returned activity back to near where it stood last June and July.

Selon  la  Société  canadienne  d’hypothèques  et  de logement (SCHL),  la  tendance  des  mises  en  chantier  d’habitations  dans  les  centres  urbains  du Québec se chiffrait à 31 165 en octobre, comparativement à 31 862 en septembre. Cette tendance
correspond  à  la  moyenne  mobile  de  six  mois  du  nombre  mensuel  désaisonnalisé  et annualisé (DDA) de mises en chantier d’habitations.

Contractors took out $6.5 billion worth of building permits in September, up 1.7% from August and the seventh monthly advance since the beginning of the year. However, there has only been a slight upward trend in the total value of building permits over the nine-month period. The September increase came from the residential sector, mainly in Alberta and Quebec.

According  to  the  latest  forecasts  conducted  by  Canada Mortgage and Housing  Corporation (CMHC),  relatively slow economic  and employment growth will reduce  demand of existing and new homes  this year.  \"As well, easing resale markets and
relatively high inventories of new  dwellings will significantly lower  housing starts in 2013.\"