Housing Market

• Condo market cools in Eastern Canada
• Condo construction is down by 10.4% in Toronto/17.6% in Montreal
• Demographics show the Condo sector is posed for more growth in cities
• 10 Million Canadians over 50years old; many will downsize to Condos
• 28% of Canadians over 50 intend to sell their homes
• Of the 28%, 1/3 will move to smaller homes
• 70% of Canadians own homes, 20% own second property
• Housing prices are at record highs, along with rental vacancies
• Renting is now a viable option for those sitting on equity of more than $100,000

MAIN REASONS FOR SELLING

• 67% say home/property will be too hard to maintain
• 46% want access to equity
• 38% plan to travel
• 30% concerned about caring for themselves
• 23% concerned about not being able to afford home