The Real Estate Output in Canada has demonstrated a steady upward trend over the past decade, growing from 272.86 billion CAD in 2013 to 409.37 billion CAD in 2023. The annual growth rates have shown variations, but the sector maintained an overall positive growth trajectory, with the year-on-year percentage increase averaging around 4.2% over the last five years. For instance, the market grew by 4.34% in 2020, 3.61% in 2021, and 3.75% in 2022, followed by a 3.57% increase in 2023.
Looking ahead, the forecast indicates a continuation of this growth trend, albeit at a slightly slower pace, with a predicted 5-year CAGR of 2.45% from 2024 to 2028. The expected output for 2028 shows an increase to 477.91 billion CAD, reflecting an overall growth rate of 12.89% over the five-year forecast period.
Future trends to watch for include potential market adjustments due to economic factors such as interest rate changes, housing demand fluctuations, and government policies regarding real estate regulations and taxation. Moreover, the impacts of technological advancements in property management and smart homes could create new dynamics in the sector.