Investor Presentaiton
Canada: Housing Market Strength
Strong demand continues to confront insufficient supply
G7 Population Growth
Housing Market is Historically Undersupplied
Ratio of total home completions on 18-
month rolling basis relative to population
change
0.90
1.8
annual % change
Canada
United States
Euro Area
1.6
Japan
United Kingdom
Italy
0.80
1.4
France
1.2
0.70
1.0
0.8
0.60
0.6
0.4
0.50
0.2
0.40
0.0
-0.2
0.30
-0.4
08
09
10
11
12
13
14
15
16 17
18
19
20
Sources: Scotiabank Economics.
Listings Falling More Rapidly than Sales
90
sa sales-to-new-listing ratio, %
80
70
60
50
40
1984-present avg.
W
99
02
05
08
11
14
17
20
87
90
93
96
84
Sources: Scotiabank Economics, Statistics Canada.
Government Assistance Supporting Households
2.5
%
2.0
1.5
Seller's Market
Buyer's Market
1.0
0.5
Hypothetical arrears rate on mortgages simulated by
BoC for 19% fall in GDP in 2020
Arrears without existing household
support measures
Arrears with existing support measures
21
22
Sources: Scotiabank Economics, Bank of Canada Financial System Review.
0.0
30
20
04 05 06 07 08 09 10
11
12
13
14
15
16
17
18
19 20
Sources: Scotiabank Economics, CREA.
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