The Canadian Mortgage and Housing Corporation predicts that
the property market will recover in the next two years,
and property prices are more likely to rise above 2017 levels.
The annual market outlook report released
by the Mortgage and Housing Corporation pointed out that
following the continued weakness of the property market this year and last year,
it is expected that the number of new housing starts
should rise to about 200,000 next year.
The report also pointed out that
with the increase in household income,
it is expected that the transaction volume
of residential properties in Canada will increase in the next two years
and can offset the decline since 2017.
Mortgage and housing companies predict that
the property market will resume growth in 2020 and 2021,
and the national average property price will have a chance
to rise above the level recorded in 2017.
However, mortgages and housing companies are still warning that
the trade situation continues to be tight
and that high household debt levels will continue to pose risks
to the economy and the property market.
In addition, high interest rates or unemployment rates
will also have an opportunity to affect the already tight budget.
Thereby suppressing the property market activities.