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