The Impact of COVID-19 on Key Housing Markets

Warning View the most recent version.

Archived Content

Information identified as archived is provided for reference, research or recordkeeping purposes. It is not subject to the Government of Canada Web Standards and has not been altered or updated since it was archived. Please "contact us" to request a format other than those available.

Archived

This page has been archived on the Web.

Release date: July 21, 2020
COVID-19: A data perspective Related article More information PDF version
Infographic: The Impact of COVID-19 on Key Housing Markets
Description: The Impact of COVID-19 on Key Housing Markets

The Impact of COVID-19 on Key Housing Markets

Prior to COVID-19, the price of condominium apartments increased at a faster pace than the price of single, semi-detached and row homes.


Table 1
Table summary
This table displays the results of Table 1. The information is grouped by Year (appearing as row headers), Months, New condominium apartment, New house, Resale condominium apartment and Resale house (appearing as column headers).
Year Months New condominium apartment New house Resale condominium apartment Resale house
2019 Jan. – Mar. 108.2 101.2 112 100.2
Apr. – Jun. 108.2 100.8 113.7 101.4
Jul. – Sep. 107.1 100.5 114.1 102.1
Oct. – Dec. 111.7 100.6 115.7 102.8
2020 Jan. – Mar. 118.2 101 118.1 104.7

From January to March 2020, Ottawa outpaced other key markets for growth of house prices compared with the previous year.


Table 2
Table summary
This table displays the results of Table 2. The information is grouped by Geography (appearing as row headers), Year over Year percentage change for Jan – Mar 2020 (appearing as column headers).
Geography Year over Year percentage change for Jan – Mar 2020
Calgary -2.00%
Montréal 8.00%
Ottawa 13.20%
Toronto 6.50%
Vancouver 0.30%
Victoria 4.30%

Housing market outlook during and after COVID-19

Builders and buyers have mostly shifted to virtual tours and digital contract signings.

Demand for larger houses has grown as working from home becomes more prevalent.

People will opt to live in suburbs, where there is more space for families.

For a more detailed analysis see the article “Price trends and outlook in key Canadian housing markets” at the address: https://www150.statcan.gc.ca/n1/pub/45-28-0001/2020001/article/00053-eng.htm

Source: Statistics Canada. Table 18-10-0169-02 Residential property price index, percentage change, quarterly.

More information

Note of appreciation

Canada owes the success of its statistical system to a long-standing partnership between Statistics Canada, the citizens of Canada, its businesses, governments and other institutions. Accurate and timely statistical information could not be produced without their continued co-operation and goodwill.

Standards of service to the public

Statistics Canada is committed to serving its clients in a prompt, reliable and courteous manner. To this end, the Agency has developed standards of service which its employees observe in serving its clients.

Copyright

Published by authority of the Minister responsible for Statistics Canada.

© Her Majesty the Queen in Right of Canada as represented by the Minister of Industry, 2020

Use of this publication is governed by the Statistics Canada Open Licence Agreement.

Catalogue no. 11-627-M

Frequency: Occasional

Ottawa

Date modified: