Source – STATSCAN
Source – STATSCAN
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- In 2011, the total number of units sold in Peel’s residential resale market was 18,910.
- At that level, total sales in Peel in 2011 was 1.2 per cent below that registered in 2010.
- There were lower levels of activities in Brampton and Mississauga.
- In Brampton, total sales fell by 0.5 per cent from 7,688 units in 2010 to 7,646 units in 2011.
- At total of 10,446 units were sold in Mississauga in 2011, down 2.3 per cent relative to the 10,691 units sold in 2010.
- The number of units sold in Caledon increased by 8.5 per cent to reach 818 units.
- However, given the relatively small size of Caledon’s market, this growth was not sufficient to change the direction of Peel’s residential resale market.
- The decline in activities in Peel’s residential resale market in 2011 reflected the difference in market conditions in 2010 and in 2011.
- During January - June 2010, market participants increased their purchase of resale housing units ahead of an expected rise in interest rate and the institution of the Harmonized Sales Tax (HST) in Ontario on July 1, 2010.
- In July 2010, the number of units sold in Peel fell by 30.8 per cent.
- During the first half of 2011, macroeconomic influences were different as the market returned to more normal levels of activities in the absence of any changes that the market perceived as having potential negative impacts.
- As such, market activities fell below the level of activities registered in the first half of 2010.
- During the second half of 2011, total sales in Peel’s residential housing market increased relative to the similar period of 2010, but this was not sufficient to outweigh the decline registered during the first half of the year, resulting in an overall decline in sales for the full year 2011
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