17 February 2011
In 2012 a modest increase is predicted.
The jobs lost during the economic downturn have already been recovered. The employment growth in 2011 and 2012 will support the housing market.
In 2010 the growth in incomes improved due to economic recovery and the labour market situation. In 2011-2012 the income growth is expected to grow at a modest pace.
4. Net Migration.
The main thing about net migration is that an improving job market conditions will attract immigrants who will push the net migration up in 2011 and 2012.
5. Natural Population Increase.
The main reason for slowing of growth in the natural population is the low birth rate. It can reduce demand for additional housing inventory.
6. Resale Market
The sales in the existing home market have increased. .In 2011-2012 the market conditions are expected to be in balanced market territory for most.
7. Vacancy Rates.
Rising competition from condo market and low rental construction will be at least partly offset by strong rental demand. The demand will be provoked by the high immigration level. In the end, the vacancy rates will remain relatively stable.