Craig Alexander, Ted Tsiakopoulos, Michael Mann

Multi-residential sector outlook

What’s around the bend
Saturday, March 27, 2010

Craig Alexander, senior vice-president and deputy chief economist, TD Bank Financial Group explains why the rate and price point of condo sales has cooled down since 2009, and why this “dip” will continue next year.

Ted Tsiakopoulos, Ontario regional economist, Canada Mortgage and Housing Corp. (CMHC) comments on new condominium sales in major Canadian hubs such as Vancouver and Toronto. He believes the new mortgage rules and HST will increase condo sales in the next 12 months.

Michael Mann, director, strategic marketing, Tridel says January 2010 was Toronto’s best month on record for condo sales – a huge turnaround from the first quarter of 2009, which was the industry’s worst reported quarter since 1996. If job, immigration and interest rates hover around current levels, this year is looking very good for condos.

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