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STATE OF THE HOUSING INDUSTRY
CANADA
Kevin Lee, CEO
Canadian Home Builders’ Association
Presentation to the
International Housing Association
November 3-4, 2016
STATE OF THE HOUSING INDUSTRY: CANADA
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ORGANIZATION OVERVIEW:
The Canadian Home Builders’ Association (CHBA) is the voice of Canada’s residential construction
industry. Our industry is a vital part of Canada’s economy in every community across the country.
We directly and indirectly support more than 1 million jobs, paying more than $58 billion in
wages. We generate $129 billion in annual economic activity, and provide over $30 billion in
federal and provincial revenues each year.
Since our founding in 1943, CHBA has held to its core principles of affordability and choice in
housing:

Communities should provide a wide range of housing options suited to all those who want to
live and work there; and,

Canadians who work hard should have a reasonable opportunity to own a home.
Representing more than 8,500 small- and medium-sized businesses across Canada, CHBA
members include home builders, renovators, land developers, trade contractors, product and
material manufacturers, building product suppliers, lending institutions, insurance providers, service
professionals, municipalities and more.
STATE OF THE HOUSING INDUSTRY: CANADA
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HOUSING ECONOMIC STATISTICS:
Starts:
- Single Detatched*
- Multifamily*
Percentages:
64,045
-2% (YTD, centres 10,000+)
Gross Domestic Product
Q2 2016
GDP Growth
Q2 2016, Q/Q
GDP Per Capita
Q2 2016
House Price Index
0.8% M/M, 11.7% Y/Y
Consumer Price Index
1.1% (1.8% Core)
Unemployment
7.2%
Home Mortgage Interest Rate avg. 2.50% - 2.99%
Home Ownership Rate
~68%
Population Growth/Net
0.4% (Y/Y Q2 2016)
Numbers:
64,045
137.803
1,776.2 B
-0.4%
55,228
Oct 2016
August 2016
Q2 2016
5 yrfx/25am
(~-2% Y/Y)
36,286,425
*September Seasonally Adjusted Average Rate (SAAR)
STATE OF THE HOUSING INDUSTRY: CANADA
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HOW IS SOCIAL HOUSING ADDRESSED IN YOUR COUNTRY?
What is the status of social housing?
social housing being delivered?





How is
~600,000 social housing units (4% of ~14 million total housing units)
supported by government funding
About half of social housing stock is strictly geared-to-income
The vast majority of social housing stock is administered by non-profit
providers through operating agreements with governments at various
levels.
Starting in 2014 and wrapping up by 2037, operating agreements
for social housing administered by CMHC (federal/national level) will
come to an end.
The federal Homelessness Partnering Strategy ($ to communities)
continues until 2019, and the federal Investment in Affordable Housing
($ to provinces) extends for a similar period.
STATE OF THE HOUSING INDUSTRY: CANADA
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HOW IS SOCIAL HOUSING ADDRESSED IN YOUR COUNTRY?



Despite previous and current investments, there has been a lack of substantial progress
in reducing the number of Canadians in Core Housing Need, especially among those
who simply lack the income to afford their current accommodation.
CHBA advocates that it is important to recognize that most Canadian in housing need do
not have a “housing problem” but an “income problem”
The new government (1 year old) has launched the development of a “National Housing
Strategy” that has the following vision:
“All Canadians have access
to housing that meets their
needs and they can afford.
Housing is the cornerstone
of building sustainable,
inclusive communities and a
strong Canadian economy
where we can prosper and
thrive.”
STATE OF THE HOUSING INDUSTRY: CANADA
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CHBA & The National Housing Strategy
In addition to participating in a number of consultations on specific housing topics,
CHBA has made two formal submissions:
1) Toward a Comprehensive, Sustainable National Housing Strategy
 covers the full housing continuum with recommendations for:

improving the effectiveness of social housing initiatives

boosting the supply of new market-based rental housing, and

improving market-housing access and affordability for all Canadians,
especially the middle-class and those working hard to join it.
STATE OF THE HOUSING INDUSTRY: CANADA
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CHBA & The National Housing Strategy
2) Housing Markets and Affordability: Strategic Considerations


focuses on evidence-based policy recommendations relating to federal
policy initiatives to address house prices now underway
Data and information to guide federal and coordinated intergovernmental
actions

Ensure stable and secure housing markets

Ensuring Canadians can continue to become homeowners

Particular interest in continued growth in property prices in Vancouver and
Toronto.
Kevin Lee, CEO
[email protected]