Montreal Condo Market Demographics | Condominium buyers are young-one in two is under 35 years old-and half of them are single-person households

Condominium buyers are young-one in two is under 35 years old-and half of them are single-person households. The condominium resale market is now favourable to buyers in almost all market zones on the Island of Montréal. The average price of condominiums is bound to stabilize or even decrease in certain zones on the Island in 2014.


On the new home market, the inventory of unabsorbed condominiums should increase further in 2014, which will prompt builders to reduce the level of starts.
Suburbs


Among the households who buy houses or plexes in the suburbs, up to one in four comes from the Island. Nearly one in three condominium buyers is over 55 years old, a higher proportion than on the Island.The existing single-family home segment will stay balanced in 2014 and see prices rise slightly in all sectors. As for existing condominiums, CMHC forecasts that this segment will remain favourable to buyers in 2014 and post a small increase in the average price, as well.


On the new home market, freehold housing starts are shifting toward the outskirts and even outside of the CMA territory. And, given the large number of condominiums available on the new and existing home markets, CMHC expects that condominium starts will decrease in all suburban sectors in 2014.
As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.