The surge in housing starts to a 10-month high in September casts doubt on our view that there is much worse still to come for residential investment, especially as the recent stabilisation of the sales-to-new listing ratio implies that the downward pressure on house prices may abate despite elevated mortgage rates.
Canada Drop-In (26th October): We’re holding a briefing on the Bank of Canada decision shortly after the Wednesday 26th policy announcement. Register to join our discussion about how close the Bank might be to pausing its tightening cycle, housing market risks and whether interest rates could be cut next year. Register now.
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