CMHC Releases 2011 Canadian Housing Observer, a Comprehensive Report on the State of Housing in Canada

OTTAWA, ONTARIO--(Marketwire - Dec. 29, 2011) - Housing-related spending accounts for more than 20 per cent of Canada's Gross Domestic Product, contributing about $330 billion to the Canadian economy in 2010 - up 7.1 per cent from $308 billion in 2009. This and other key findings are in the ninth annual Canadian Housing Observer, released today by Canada Mortgage and Housing Corporation (CMHC).

"The Observer is unique in its in-depth review of housing conditions and trends, including developments - both domestic and international - that influence housing finance and housing market developments in Canada," said Karen Kinsley, President of CMHC. "The Observer's data provides insight into Canadian residential mortgage practices and housing market trends, while highlighting the importance of housing in this country."

The 2011 Observer looks at other important housing data including:

• The anticipated growth in the influence of seniors on the housing market in the future as their share of the population rises from about 14 per cent to almost 24 per cent by 2036;
• How urban core housing need improved between 2002 and 2008 as 87 per cent of urban Canadian households either had, or could afford, acceptable housing in 2008;
• How low interest rates, coupled with a small inventory of existing homes for sale, helped push the average MLS price up by 5.8 per cent in 2010 to $339,042; and
• How condominiums accounted for one-third of all housing starts in major Canadian urban centres in 2010, compared with 29 per cent in 2009.

Online, users can access a broad range of statistical information on housing conditions from national, regional and local perspectives. New this year is the launch of additional online interactive tables featuring housing data at the local level for more than 100 selected municipalities. The online publication and data are available at www.cmhc.ca/observer. Please refer to the attached table for a sample of the wide range of key national housing data available in the Observer.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.

For more information, visit www.cmhc.ca or call 1-800-668-2642.

Selected Housing Indicators, Canadian Municipalities, 2006

	% of house- holds who own their homes		% of home- owners without mort- gages		% of home- owners under 35		Condo- minium share of home owner- ship market (%)		% of housing stock built in 1960 or earlier		% of hous- ing stock built after 1980		% of house- holds in core housing need
Canada	68		42		12		11		27		39		12,7
Municipalities
St. John's	64		39		12		5		29		35		16.4
Charlottetown	53		45		9		1		30		34		16.6
Halifax	64		37		12		7		25		43		13.6
Cape Breton	75		55		7		0		46		25		16.2
Fredericton	61		45		12		3		29		34		13.9
Moncton	59		38		16		3		32		38		13.3
Saint John	56		45		10		5		46		19		12.5
Québec	52		41		11		15		28		36		10.8
Trois-Rivières	56		44		9		4		29		37		12.9
Sherbrooke	49		38		13		5		25		40		10.2
Saguenay	62		40		11		2		31		32		8.3
Longueuil	53		38		10		13		21		32		12.9
Montréal	34		43		10		24		46		21		17.6
Laval	69		37		11		10		17		43		8.8
Gatineau	64		32		15		8		18		47		10.8
Ottawa	66		40		12		17		22		42		12.9
Kingston	62		44		9		8		29		38		13.9
Oshawa	70		36		12		7		30		30		14.6
Toronto	54		46		10		26		39		25		23.7
Hamilton	68		43		10		11		41		29		15.0
London	62		39		13		16		29		35		13.8
Sudbury	67		44		11		1		36		26		10.0
Kitchener	64		36		16		10		25		39		12.1
Windsor	67		41		15		8		45		26		15.7
St. Catharines	69		47		10		10		38		23		13.4
Thunder Bay	71		47		10		4		45		22		11.5
Winnipeg	65		41		14		8		40		24		10.9
Regina	68		43		16		10		28		28		9.9
Saskatoon	64		40		16		15		24		36		10.0
Calgary	73		33		18		19		14		50		9.4
Edmonton	63		40		17		20		21		39		12.3
Vancouver	48		47		12		37		32		41		20.6
Victoria	40		42		12		45		38		25		20.0
Kelowna	72		44		10		27		10		55		12.1
Whitehorse	67		32		14		7		14		44		15.2
Yellowknife	54		22		20		18		6		60		9.5
Iqaluit	23		23		24		7		2		70		25.2
Source: CMHC, adapted from Statistics Canada (Census of Canada) and CMHC (census-based housing indicators and data)