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Dear
Nitesh,
Here are some housing stats and mortgage information published by CMHC
and other housing agencies in Canada.
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Housing starts moves higher in September
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Compared to August of this, housing starts increased by 19.6% in
September. According to Bob Dugan, Cheif Economist at CMHC's Market
Analysis Centre,"The robust results achieved this month can be
mostly attributed to increased condominium starts, which reflect strong
condo sales over the past 12 to 24 months. Despite this sizeable growth
in September, we continue to expect that housing starts will decrease
gradually between now and the end of 2008."
To read the full report, click here.
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CMHC report on Housing in Canada
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The Canadian Housing Observer presents a detailed annual
review of housing conditions and trends in Canada and of the key
factors behind them.
"The focus on sustainable housing in this year's Canadian Housing
Observer is particularly timely given growing public interest in the
environment," said Karen Kinsley, President of CMHC. "The
Observer is a reliable source of current and comprehensive analysis of
housing trends and conditions in Canada."
Some findings included in this report:
- Housing-related spending
grew by 6.1 per cent in 2006, contributing more than
$275 billion to the Canadian economy.
- Total mortgage credit
outstanding in 2006 reached an annual average of
$694 billion, up 10.7 per cent from 2005. This is
mainly due to increased property values, which in turn increased
the average mortgage amount approved.
- Environment-friendly,
energy-efficient housing is expected to become more the Canadian
norm in the future thanks to initiatives such as CMHC's
EQuilibrium sustainable housing initiative.
- All of the
fastest-growing metropolitan areas in recent years were in
Alberta, Ontario and British Columbia, with the exceptions of
Moncton, New Brunswick and Sherbrooke, Québec.
- The level of Canadians
living in core housing need has declined slightly from 13.9 per cent
in 2002 to 13.6 per cent in 2004.
- Downtown living, which
provides easy access to workplaces, schools, and shops, as well as
housing located close to public transit, lead to reduced
automobile use.
- Building greener homes
in higher-density neighbourhoods near public transit, rather than
in sprawling suburbs, is key to reducing the housing sector's
impact on the environment and lowering greenhouse gas emissions.
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Hope you found
this edition of Housing Stats & Mortgage Market Information usefull
and informative. I look forward to providing you with more insider's
knowledge next month.
Nitesh Kumar, AMP
Mortgage Consultant
T 416.419.2566
F 905.671.9753
E info@niteshkumar.com
W www.NiteshKumar.com
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