24 June 2014

In the same time, residential investment should provide a short-term boost to the Canadian economy, supported by significant housing price growth.

“In case of residential investment (including new homes construction, renovations and ownership transfer costs) a positive effects from existing home sales increase will lead to higher residential investment,” – the report says. “In addition to it, renovation spending will probably show a boost in 2014, caused by the positive influence of stronger than predicted home price growth”.