Monday, 26 October 2015
Hamilton Housing Starts to Stabilize in 2016 as Existing Home Sales Decline in Next 2 Years
"Relative to the Greater Toronto Area (GTA), Hamilton is still considered a more affordable housing market and will continue to attract potential homebuyers from the less affordable municipalities," said Abdul Kargbo, CMHC Senior Market Analyst for the Hamilton and Brantford. "As home prices continue to rise in the GTA coupled with a gradual increase in mortgage rates, carrying a mortgage will become a greater challenge in 2017."
As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.