Residential growth has been on the incline in recent years, but especially since the last election. The growth has taken place across many areas where homes are built but largely in urban areas. In Toronto there has been substantial growth that has been noted just in the past year alone. This doesn’t mean there hasn’t been steady growth in recent years, it just means that it has mostly been happening in the past year or so. It is also noted that Montreal is the new Vancouver in terms of residential growth, Vancouver used to be ahead them all when it came to residential investment growth.
- In 2019, Canadian residential has reached about $97-billion, which is up almost 4% from previous years.
- In other cities like Vancouver, investment growth seemed to decline towards the end of the calendar year, yet the overall increasing trend holds true.
- The Toronto area has seen some of the largest urban residential investment growth in Canada over the last year.
“Canadian investment in residential building was beginning to slow, but reversed course late last year.”