Tag Archives: Quebec

Canada Outlook NEW

Canadian housing market to moderate in 2019 but growth to continue in Ontario and Toronto

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Canadian housing market to moderate in 2019 but growth to continue in Ontario and Toronto

Canada Outlook NEW

 

By Wayne Karl

Canada’s housing market should see a moderation in both housing starts and sales, while home prices are expected to reach levels that are more in line with economic fundamentals such as income, job and population growth. This forecast for 2019 and 2020 is drawn from the 2018 Housing Market Outlook from the Canada Mortgage and Housing Corp. (CMHC).

Source: CMHC Housing Market Outlook
Source: CMHC Housing Market Outlook

Nationally, CMHC’s outlook for 2019 projects total housing starts to edge down and range between 193,700 to 204,500, with the downward trend expected for both single and multi-unit starts. MLS sales are expected to be between 478,400 and 497,400 units annually while MLS prices should lie between $501,400 and $521,600.

“Our key takeaway from this year’s outlook is moderation in Canada’s housing markets for 2019 into 2020,” says Bob Dugan, chief economist, CMHC. “Housing starts are expected to decline from the higher levels we’ve seen recently. We expect resales in 2019 and 2020 to remain below recent peaks while prices should reach levels that are more in line with economic fundamentals such as income, job and populations growth.”

Ontario recovery

After dampened market activity in 2018, existing home sales and housing starts in Ontario, particularly in single-family homes, will post a partial recovery in 2019. Buyers are expected to re-enter the market on the strength of stronger than expected job growth and in-migration, before the downward trend in starts and sales resumes in 2020.

Source: CMHC Housing Market Outlook
Source: CMHC Housing Market Outlook

GTA growth

With balanced conditions prevailing in the GTA, CMHC expects moderate sales growth and home prices growing in line with inflation. The rising costs of homeownership will result in strong rental demand, while new supply will add some upward pressure on vacancy rates. Toronto buyers should see more housing choices as builders concentrate their efforts on new highrise projects.

OTHER REGIONAL HIGHLIGHTS

BRITISH COLUMBIA
Housing starts activity and MLS sales in BC should moderate, as economic and population growth slows while MLS average prices are expected to see a flatter growth profile through 2020.

Vancouver
Over the next two years, Metro Vancouver’s resale market will see lower sales, higher inventories of homes for sale and lower home prices compared with recent market highs. Through 2018, demand and home prices softened across all market segments and local geographies.

PRAIRIES
Buyers’ market conditions in Alberta and Saskatchewan should gradually shift to a balanced market with gradual improvement in economic and demographic fundamentals. Balanced market conditions in Manitoba are expected to continue.

Calgary
Various factors will push and pull the demand for housing in Calgary in 2019 and 2020. Calgary’s economy will experience stronger growth in population and employment. This will help support demand and lift sales in 2019 and 2020. However, the average MLS price will continue to face downward pressure but is expected to stabilize in 2019 and modestly rise in 2020.

QUEBEC
Housing starts and sales of existing homes will both be sustained, however, slower economic growth and rising borrowing costs will moderate activity through 2020. Starts will continue to be dominated by the apartment market segment, while demand for resale single-detached homes will remain relatively strong.

Montreal
In 2018 and 2019, rental housing demand will increase slightly faster than supply in Montreal, which will put some downward pressure on the vacancy rate. Demand will be supported by rising net migration over the forecast horizon.

ATLANTIC CANADA
The Atlantic region will see sustained activity, notably in Nova Scotia, where existing home sales and average prices should trend higher while rental demand will drive growth in apartment construction.

RELATED READING

7 factors that will affect GTA housing in 2019 – and 5 reasons to consider buying NOW

 

 

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Travel: The Laurentians

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Travel: The Laurentians

An area of tangible dualities

By Kate Robertson

Located north of Montreal, Les Laurentides is a region crossed by the rounded Laurentian Mountains. The area features vast forests, more than 9,000 lakes and 100 fresh-flowing rivers, as well as thousands of kilometres of crosscountry skiing trails.

Photography, courtesy of Tourisme Laurentides

Naturally Beautiful

Mont Tremblant National Park, the largest in Quebec at 1,500 square kilometres, is a canoeing and hiking paradise. Guided activities are available through Kanatha-Aki (which means Guardian of the Boundless Earth, in Algonquin) for horseback riding, fishing and visiting the wood bison – the largest land mammal in North America. This Quebec reserve is the only one that is dedicated to protecting these endangered animals. If reserving with Kanatha-Aki, be sure to pre-book a cheese fondue. After spending the night in a rustic cabin or teepee, there’s nothing quite like dipping chunks of fresh baguette into the gooey goodness of melted cheese, while sitting in front of the wood stove in the open-beam lodge.

Wood bison at Kanatha-Aki. Photography, Kate Robertson

Originally built in 1936, the Mont Gabriel Hotel & Spa is located on top of a mountain. On a clear day, you can see the Montreal Olympic Stadium from your room, and golf enthusiasts will enjoy the picturesque, 18-hole, on-site course.

Foodies Unite

The Chenin du Terroir is a 226-kilometre food trail that takes you along country backroads with many enticing stops along the way. Make sure to stop at Tarterie du Verger de la Musique for freshly baked pies and their signature apple bread. This sixth-generation, family-operated business has patented the recipe for their gourmet bread, which includes a full pound of apples in each loaf. During apple season, arrive early to score some of this chewy, cinnamon-y delicacy, as they often sell out of the more-than 500 loaves that they bake per day.

Warm up with the velvety smoothness of a cheese fondue at Kanatha-Aki. Photography, Kate Robertson
Tarterie du Verger de la Musique’s signature apple bread. Photography, Kate Robertson

Down the road from the bakery is Vignoble Riviere du Chene. Here you can take a tour, and learn about the typicality of the terroir and grape varietals, as well as the responsible farming techniques and winemaking methods that they use. Tours run from May until the end of October, but wine tasting is available year-round. A soft, fruity rosé named after their daughter, Gabrielle, just might be the perfect pairing to go along with the apple bread, and other tasty treats from the food trail, for an impromptu picnic.

Vignoble Riviere du Chene. Photography, Kate Robertson

Nominated as one of the best beekeeping farms in the world and recognized across North America for the diversity, and quality, of their products, Intermiel manages 5,000 beehives. The farm also has a 600-tree apple orchard, and 16,000 maple trees that are tapped for syrup each spring. The beekeeping tour is fascinating. Did you know that bees cover a radius of six kilometres to get their pollen? Also, the queen bee lives for five years because she eats royal jelly, but the worker bees only have a lifespan of 45 days. Check out the unique merchandise made from honey and wax that they have available in their store, as well as artisanal alcohol products, which include house-made mead, ciders and brandies – all prepared from the the farm’s own ingredients.

Mont Tremblant. Photography, courtesy of Tourisme Laurentides

Yin and Yang

Known world-wide for its famous ski resort, the village of Mont Tremblant is the second oldest village in North America. The buildings and cobblestone, pedestrian-only streets are reminiscent of quaint, European styling.

The best of all worlds can be experienced here. If you want an outdoor adventure getaway, you can enjoy the beauty of the area by hiking or biking. D-Tours offers e-fat biking, which are electrically assisted bikes with fat tires. The extra boost is most welcome when navigating the hilly terrain. Take in the stunning panorama with a gondola ride, or enjoy the challenges of some breathtaking golf courses.

Village of Mont Tremblant. Photography, courtesy of Tourisme Laurentides

For a quieter, more-relaxed holiday, the rustic, Nordic-style Scandinave Spa is located in a wilderness setting. As with traditional thermal spas, there are hydrotherapy baths with hot and cold installations, steam and hot sauna options, as well as relaxation areas. If you dare, you can take a dip in the Diable River, where the temperature is around 12 degrees (colder in the winter). After, wrap up in a large blanket and cosy up in front of the fire pit. Reconnect with your inner self, as the entire spa is a silent zone.

Scandinave Spa. Photography, courtesy of Tourisme Laurentides

The Laurentians is an incredible, all-season destination, but with its monumental stands of maple trees, along with a bountiful harvest, Fall is a glorious time to visit.

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