As we’ve said before, this report is a veritable Moby Dick when it comes to length, so we’ve been combing through it and picking out only the best points from each chapter. Last week we covered “Housing Markets” and today we’ll be having a look at influences on housing demand.
So without further ado, here are the key points from the “Influences on Housing Demand” chapter of the Canadian Housing Observer:
- The recession officially ended in the second half of 2009 and economic improvements continued in 2010
- Canada’s population grew faster in 2008, 2009 and 2010 than at any other time since the 1990s
- Immigration to Canada reached its highest level in four decades in 2010 with 271 000 immigrants landing in the country
- In 2010 63.8 per cent of immigrants landed in Toronto, Montreal or Vancouver, down from 72.7 per cent in 2001
- From 2008 to 2010, Saskatoon had the highest growth rate of any Census Metropolitan Area in Canada while Vancouver, Calgary, Regina and Edmonton followed
- Canada’s senior population is expected to double by 2036
- Aging households will support continued growth in condominium markets as seniors have the highest rate of condo ownership than any other age group
- Despite widespread increases in employment in 2010, unemployment rates in each of the provinces and territories remained above pre-recession levels
Tune in later this week for more key points from the Canadian Housing Observer!