REPORT: Canada real estate and housing market forecast and predictions for 2021

LowestRates.ca data show that out of B.C., Ontario, Quebec, Alberta, and Nova Scotia, Quebec residents put the lowest down payments on a house in Q1 of this year — at just below 15% on average.
Key findings
- Despite tighter lending rules, record demand for Canadians to own real estate will contribute to strong price growth this year.
- Although five-year fixed mortgage rates are currently near historic lows, most mortgage rate predictions in Canada suggest a rise in interest rates in the second half of 2022.
- The lull in immigration has hurt Toronto’s condo and rental markets; recovery is expected as immigration restarts.
About the author

Zandile is a freelance personal finance journalist. She previously worked as a personal finance writer at LowestRates.ca and before that, the content editor for Real Estate Management Industry News. As a self-proclaimed budget warrior, Zandile dedicates most of her time to advocating for financial wellness.