The Impact of COVID-19 on Key Housing Markets

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.

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