18 July 2014
“In case of housing prices, we predict a slight national gain of 3.4% in 2014 and almost no changes (-0.1%) in 2015.”
In terms of affordability three main Canadian markets will become even less affordable for buyers when interest rates start rising.
“In the nearest future affordability will be restrained by real estate prices outpacing income growth in Toronto, Vancouver and Calgary,” – the report notes. “Later this year and in 2015 we believe higher mortgage rates will affect the affordability more broadly.”