Key Insights
Housing starts in Canada are projected to decline in 2024, influenced by higher interest rates and reduced affordability, with a partial rebound expected in 2025–2026.
The national rental vacancy rate increased to 2.2% in 2024 from 1.5% in 2023, attributed to a 4.1% growth in purpose-built rental apartments—the highest in over 30 years.
Average rent growth for two-bedroom apartments slowed to 5.4% in 2024, down from 8% in 2023, indicating easing rental pressures.
AI Analysis
The Canadian housing market is expected to experience a gradual recovery over the next 6-18 months, influenced by easing interest rates and increased ...
Market Outlook
Short-Term
In the short term, the housing market slowdown may lead to reduced construction activity and a cooling rental market, with vacancy rates rising and rent growth moderating.
Long-Term
Recent News
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