With the re-election of the Liberal Government, Canadians have at least some clarity on the future direction of housing policy. The Liberal Government proposed an increase to the first time home buyer program, of upwards of $780,000 in Vancouver, Victoria and Toronto. They also proposed a nationwide speculation tax on non-resident owners. Of course, it remains to be seen if they will actually follow through with these ideas.

What we do know for sure is that the Canadian housing market is enjoying a recent bounce in activity. Nationally home sales jumped 15% year-over-year in September, and it appears residential construction spending might be on the rebound as well.

After contracting for six consecutive months (November 2018- March 2019) investment in residential construction spending has been growing for four straight months.  The most recent growth ticked in at 3.8% on an annual basis in August. This is encouraging news given how dependant the Canadian economy is on the Real Estate sector.

Residential Construction Spending
Residential construction spending in Canada

On a seasonally adjusted annual rate residential construction spending neared record highs of $127B.

Oddly enough, Vancouver residential construction spending remains in positive territory. In other words, the weakness in overall housing activity and the pull-back from property developers has not yet been felt. I suspect we will see construction spending fall into negative territory by early next year, ultimately becoming a drag on economic growth.

Residential Investment in Vancouver
Residential investment in Vancouver housing.

12 COMMENTS


  1. Notice: Undefined variable: user_id in /home/204124.cloudwaysapps.com/yjwwhxqbus/public_html/wp-content/plugins/add-new-default-avatar/kl_addnewdefaultavatar.php on line 167
    Soms

    Hi,Sir, I am a South African musician, and investor, interested in emigrating and purchasing a middle class home in Canada. Sir, being an entertainer, I would prefer something close to Canadas entertainment hub. I am single and seek your advice and suggestions incl. Price range. Respectfully, Soms Naicker +27614913755 [email protected]


  2. Notice: Undefined variable: user_id in /home/204124.cloudwaysapps.com/yjwwhxqbus/public_html/wp-content/plugins/add-new-default-avatar/kl_addnewdefaultavatar.php on line 167
    oprolevorter

    I would like to thank you for the efforts you have put in writing this site. I’m hoping the same high-grade web site post from you in the upcoming also. In fact your creative writing abilities has encouraged me to get my own blog now. Really the blogging is spreading its wings fast. Your write up is a good example of it.


  3. Notice: Undefined variable: user_id in /home/204124.cloudwaysapps.com/yjwwhxqbus/public_html/wp-content/plugins/add-new-default-avatar/kl_addnewdefaultavatar.php on line 167
    Astrology

    I would like to thank you for the efforts you have put in writing this site. I’m hoping the same high-grade blog post from you in the upcoming as well. Actually your creative writing skills has encouraged me to get my own blog now. Actually the blogging is spreading its wings fast. Your write up is a good example of it.

  4. I would like to thnkx for the efforts you have put in writing this blog. I am hoping the same high-grade blog post from you in the upcoming as well. In fact your creative writing abilities has inspired me to get my own blog now. Really the blogging is spreading its wings quickly. Your write up is a good example of it.

  5. Thank you for the auspicious writeup. It if truth be told was once a leisure account it. Look complex to more introduced agreeable from you! However, how can we communicate?

  6. I truly enjoy looking through on this web site, it has got great blog posts. “And all the winds go sighing, For sweet things dying.” by Christina Georgina Rossetti.

  7. Throughout this grand scheme of things you receive a B- for hard work. Exactly where you confused me was on all the specifics. You know, as the maxim goes, details make or break the argument.. And it couldn’t be more accurate in this article. Having said that, let me tell you just what did work. The article (parts of it) is certainly rather engaging and that is probably the reason why I am taking an effort in order to opine. I do not make it a regular habit of doing that. Secondly, while I can notice a leaps in reason you come up with, I am not necessarily sure of exactly how you seem to unite your ideas that make the final result. For the moment I will yield to your point however wish in the future you connect the facts much better.

  8. I’ve been exploring for a little for any high-quality articles or blog posts on this kind of area . Exploring in Yahoo I at last stumbled upon this web site. Reading this info So i’m happy to convey that I’ve a very good uncanny feeling I discovered just what I needed. I most certainly will make sure to do not forget this site and give it a glance on a constant basis.


  9. Notice: Undefined variable: user_id in /home/204124.cloudwaysapps.com/yjwwhxqbus/public_html/wp-content/plugins/add-new-default-avatar/kl_addnewdefaultavatar.php on line 167
    web page

    You made various nice points there. I did a search on the theme and found mainly persons will go along with with your blog.


  10. Notice: Undefined variable: user_id in /home/204124.cloudwaysapps.com/yjwwhxqbus/public_html/wp-content/plugins/add-new-default-avatar/kl_addnewdefaultavatar.php on line 167
    web page

    Hey there would you mind sharing which blog platform you’re working with? I’m looking to start my own blog soon but I’m having a hard time making a decision between BlogEngine/Wordpress/B2evolution and Drupal. The reason I ask is because your design and style seems different then most blogs and I’m looking for something unique. P.S My apologies for getting off-topic but I had to ask!

  11. Valuable information. Lucky me I found your web site by accident, and I’m shocked why this accident did not happened earlier! I bookmarked it.

  12. Thankyou for this wonderful post, I am glad I found this web site on yahoo.

LEAVE A REPLY

Please enter your comment!
Please enter your name here