Skip to main content

2015-2016 HOUSING MARKET OUTLOOK (PROVINCE OF QUEBEC)

2015-2016 HOUSING MARKET OUTLOOK (PROVINCE OF QUEBEC)

According to the latest forecasts conducted by Canada Mortgage and Housing  Corporation (CMHC),  Quebec housing starts will  moderate this year and increase slightly next year.

"A gradual acceleration of Quebec’s economic growth over the next two years will provide some stimulus to housing demand in 2015 and 2016. During this  period, resale markets will tighten somewhat,  eventually  translating  into  higher  levels  of  housing  starts,"  according  to  Kevin Hughes, CMHC Regional economist for the province of Quebec.

Starts of single detached houses will be situated within the 10,500 and 11,900 range in 2015 and  within  the  12,000  and  14,000  range  in  the following  year.  As  the  resale  market  tightens, demand will progressively increase.

Starts of multiple units will lie within a range of 22,500 to 25,500 units this year. In 2016, activity in the retirement home market segment will contribute to an increase in multi -unit starts. As a result, between 24,800 and 28,900 units are forecast for 2016.

Sales of existing homes recorded by Centris®1  should increase slightly this year and next, in line with employment growth. Between 68,000 and 75,000 transactions are thus expected this year.  Following  this  increase,  slightly  more robust  labour markets  will  shift  the forecast  range next year. Between 68,500 and 76,000 sales are expected in 2016.

Prices of resale homes will post growth ranging from  -2.2 per cent to 5.3 per cent in 2015, and from  -3.7 per cent to 8.4 per cent in 2016. As a result, the average price recorded by Centris® will range from $260,000 to 280,000 in 2015 and from $262,000 to $295,000 in 2016.

About the author

Québec Landlords Association

Join now

Not already member of the APQ ?

Take advantage of all our services by joining now

This site uses cookies in order to provide you with the best possible user experience. By continuing to browse this site, you agree to the use of cookies.