Economic Slowdown Doesn't Dent Housing Industry Confidence: Report

Intensive 60-page analysis by Fortress Real Developments shows industry concerned with interest rates and affordability, not speculative investors or household debt

TORONTO, Sept. 9, 2015 /CNW/ - Fortress Real Developments today issued their semi-annual Market Manuscript.

Now issued for the fourth time, the Market Manuscript – written by 15-year industry analyst Ben Myers – brings together third party reports, original surveys, and custom analysis for key markets across the country and uses them to paint a comprehensive picture of housing in Canada today.

"Canada doesn't have a national market – rather, we have collection of regions," says Ben Myers, Senior Vice-President of Market Research and Analytics at Fortress, and author of the report. "In the Market Manuscript I get beyond the headlines, drill down into those regions, and help prospective buyers, homeowners, investors and real estate industry participants focus on the key trends driving residential house prices and construction activity."

The Fall 2015 edition of the Market Manuscript does indeed look at Canada as a whole – but it also takes deep dives into the Toronto, Calgary, Edmonton, Ottawa and Winnipeg markets.

Report highlights include:

  • National industry concerns: New polling of the residential builders and developers shows that the industry is not concerned with household debt, overvalued housing, or speculative investors, but remain cognizant of rising interest rates and eroding affordability

  • Underbuilding in Toronto: Contrary to recent reports, housing starts are trending below demographic fundamentals, with the metro area expected to experience a multi-year period of underbuilding – leading to further unit appreciation

  • No movement in Calgary: Despite an expected fall of 40 per cent in conventional oil investment across the province, the Calgary CMA's housing market is holding steady, with losses in the energy sector offset by gains in the service sector, especially education, and healthcare

  • Strong unit absorption in Edmonton: Despite declines in new condo sales, completed projects continue to be absorbed by the market. Resale pricing and transaction volume remain consistent with 2014

  • Strength in Ottawa's secondary rental market: Although construction activity is beginning to cool after years of historically elevated activity. Private condominium investors are encouraged by condo rental rate growth and low vacancy rates despite elevated high-rise completions

  • Winnipeg price growth beginning to moderate: With recent job losses being detrimental to the overall housing market, prices continue to increase, but at a much more moderate pace, compared to previous red-hot years

The Market Manuscript is a must-read for anyone looking to buy, sell, or invest in real estate – or simply looking to learn more about a market that affects us all.

To download a free copy of the complete market manuscript, please visit www.fortressrealdevelopments.com/news/market-manuscript 

ABOUT FORTRESS REAL DEVELOPMENTS

Fortress Real Developments Inc. is a Canadian real estate development company that seeks out and analyzes investment opportunities in major Canadian markets. The company is focused on quality projects with recognizable alpha in residential low-rise, high-rise, and commercial market segments.

For more information on Fortress Real Developments, please visit – www.fortressrealdevelopments.com or Twitter- @FortressRDI.

SOURCE Fortress Real Developments

For further information: Media Contact: Michael O'Shaughnessy, Citizen Relations, michael.oshaughnessy@citizenrelations.com, P. 416-306-6790

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www.fortressrealdevelopments.com

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