Apartment Housing: Demand and House Price

apartment housing: That labour constraint will have the biggest impact on single-family home starts, says CMHC, as demand for apartment housing grows and building accelerates in that sector, according to CBC. Those factors will combine to drive up the average house price about 25 per cent over the three years of the forecast, from 226,868 in 2016 to about 285,000 in 2019. Single family home building more than doubles on P.E.I. The market will be held back not so much by demand, but by a shortage of skilled labour to build new housing, the agency says. Apartment vacancy rates in Charlottetown are expected to fall below 0.5 per cent. A growing population driven by immigration will be the main driver in increased demand. Higher rents will follow according to the report, with the average for a two-bedroom going from 872 in 2016 to 975 in 2019. (www.immigrantscanada.com). As reported in the news.