Amanda Luo

Mortgage Agent

Office:

Phone

Address:

Unit 413-1650 Elgin Mills Road East, Richmond Hill, Ontario L4S0B2

AGENT LICENSE NUMBER

M20001733

BROKERAGE LICENSE NUMBER

13205

2023

Highlights from the April 2023 Housing Supply Report:

Growth in residential construction was mixed across Canada’s 6 largest census metropolitan areas in 2022.
Current new home inventories are at historic lows even though housing starts were strong during the pandemic.
Housing starts increased in Toronto, Calgary, Edmonton and Ottawa. Starts were stable in Vancouver and decreased in Montréal.
New research completed by the University of British Columbia using CMHC data shows that most housing starts were built in low-amenity neighbourhoods. Apartments, however, tend to be in high-amenity areas .
As interest rates increased, homebuyer purchasing power dropped. Prices decreased slightly in most markets.
Apartment construction – both purpose-built rental and condominiums – continued to grow.

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