August 14, 2015
HPAA — August Edition: Canada and 15 Markets Assessed
This quarterly supplement of Housing Now Canada provides updated results from CMHC’s House Price Analysis and Assessment (HPAA) framework on the risks of problematic housing market conditions in 15 Census Metropolitan Areas (CMAs). Coverage of the HPAA has been expanded to include Victoria, Hamilton and Moncton.
The overall assessment of risk detected by our framework has moved from moderate in the previous assessment to high in the current assessment for Toronto. Strong price acceleration in 2015 reflects a larger share of sales of pricier homes.
While our framework continues to detect a moderate level of risk in Québec and Montréal, high overall risk is detected in Regina, Winnipeg and Toronto. Imbalances in these markets could be resolved with further moderation in house prices or improvement in economic conditions.
Read the latest HPAA in the August supplement
of Housing Now — Canada Edition