Autopsy of a home crisis

Housing prices are exploding, affordable housing is declining … Montreal is in the midst of a housing crisis. If we comfort ourselves when we compare ourselves, the situation of a good number of families will not be a concern. As population growth is currently increasing it remains to be seen whether residential construction will be adequate to meet the needs. Here is some data from the comprehensive “Portrait of Homes in Geter Montreal” published by the Montreal Metropolitan Community (CMM).

Isabel Ducas
Press

4.6 million

According to estimates by the Quebec Institute of Statistics (ISQ), which represents 48.7% of Quebec’s population, this is the projected population of Greater Montreal in 2041. By 2021, MWC had a population of 4.1 million. This increase will be mainly on the basis of international migration in the central sectors and metropolitan migration in the outer suburbs.

243,000

According to ISQ growth forecasts, the number of new families moving to the Montreal area over the next 20 years, or 12,150 families per year.

23,500

The average number of new homes built annually in the area since 2016. Despite epidemics and population decline between 2020 and 2021, residential housing continued to increase in the region, and by 2021, Montreal integration and the Northern Crown had reached incomparable highs for more than two decades.

200,000

The number of low-income tenants faces housing problems. About 8% of rental families live in homes that require major repairs, and 10% live in congested homes.

3%

Rental housing vacancy rate in Greater Montreal, which refers to the equilibrium rate. The rate was 1.5% in 2019. However, this ratio is lower in the northern crown (0.4%) than in the Montreal (0.9%), longer in the longevity integration (1.2%) and lower in the Laval (2.2%). (3.6%). In the city of Montreal, the vacancy rate is high: 7.9%. The vacancy rate for lower priced units is lower than average: 2.8% for rent of $ 750 and below and 2.3% for rent of $ 750 to $ 940.

20,000

The number of units or rooms in Greater Montreal, before the epidemic, was advertised on major short-term rental websites (Airbnb and VRBO) rather than the traditional rental market.

4 Rising prices in the resale market for one-family homes^And Quarterly 2019 to 4th^And In the 2021 quarter in Greater Montreal, the price of condominiums increased by 32%. Since the early 2010s, home real estate prices have more than doubled in terms of household income.

+47%

2%

The proportion of condominiums in the area owned by non-residents is an event that mainly affects the city of Montreal.