Housing Market Participants to Benefit from Major Enhancements to CMHC Information Products

OTTAWA, November 9, 2006 — Canada Mortgage and Housing Corporation (CMHC) today announced that the housing industry, consumers and policy makers will benefit from a new suite of  enhanced surveys and analytical reports from its Market Analysis Centre (MAC).  

“Our clients rely on MAC’s products for comprehensive and up-to-date housing market information. In an ever-changing market, such information is crucial to decision making by all market participants,” said Karen Kinsley, President of CMHC.  

“Enhancements to these products respond to needs that clients have expressed in our consultations with them, and will further reinforce CMHC’s reputation as a leading source of credible, objective information about the housing market in Canada.” 

In December of this year, a more complete picture of the rental market in a number of major centres in Canada will be available. One of Canada’s most authoritative reports, the Rental Market Survey report, will cover not only row and apartment rental units, but also the secondary rental market, which includes apartment condominiums, single, semi-detached, and duplex units.

In addition, CMHC will be releasing rental market information twice a year in June and December as opposed to only in December. The new spring survey will enable all market participants to benefit from more timely information on market trends.

CMHC also announced that a renovation expenditure survey covering major markets in Canada will be introduced early in 2007.

Ms. Kinsley said, “In dollar terms, the renovation market is now as important as the home construction market. Moreover, the rental market is becoming more complex due to the growing number of accessory suites, small structures and rented condominiums.” 

The attached backgrounder provides more detail on CMHC’s product enhancements.

Canada Mortgage and Housing Corporation (CMHC) has been Canada’s national housing agency for more than 60 years. CMHC is committed to helping Canadians access a wide choice of quality, affordable homes, while making vibrant, healthy communities and cities a reality across the country.

For media inquiries, contact:

National contact English media — Greg Goy 613-748-2582
National contact French media — Sandra Girard 514-283-5075
Toronto Housing Outlook Conference — on-site media contact (November 9, 2006 only) — Rob Genier 416-400-4170          

Backgrounder

CMHC will be introducing four new product enhancements in 2006 and 2007:

• Secondary Rental Market Information:  Beginning in December 2006, CMHC’s upcoming editions of rental market reports will be enhanced to cover not only row and apartment rental units, but also the secondary rental market, which includes apartment condominiums, single, semi-detached, and duplex units in a number of major centres across Canada.  When fully introduced next year, CMHC’s expanded reports will provide rental market information covering close to 100 per cent of the rental market in these major centres.
• Spring Rental Market Survey: Starting in April 2007, CMHC will be conducting a rental market survey, with reports to be published in June. This survey will provide higher-level information on key rental market indicators such as vacancy rates and rents. This will give users access to more timely information on market trends. The April survey is in addition to CMHC’s Rental Market Survey in October, which is reported on in December.   
• Annual Renovation Expenditure Survey:  Beginning in the spring of 2007, CMHC will be publishing the results of a new annual survey that will track the renovation market in ten major centres. The survey report will include information about spending on different types of home renovation projects.
• Publications to Cover Additional Centres: Over the next year, CMHC will be adding Abbotsford, Kingston, Peterborough, Barrie, Guelph and Brantford to market analysis reports covering major centres in Canada. These centres will now be covered in the Housing Market Outlook, Housing Now, and Rental Market Report publications.

CMHC’s Rental Market Survey reports will be available December 14, 2006. Users may sign up for  free electronic subscriptions to the survey reports. Electronic versions will be forwarded directly to subscribers on the day of release.

Alternatively, users may download electronic reports on the day of release. Visit www.cmhc.ca/housingmarketinformation, click on the Statistics and Data menu, then select Rental Market Reports, Major Centres or Provincial Highlights. 

For more information call 1-800-668-2642.