A new poll by the Royal Institute of Chartered Surveyors (RICS) found that the general sentiment within the industry is positive but there is also some concern around over-building of housing with “a substantial proportion of respondents highlighting the risks to the Toronto housing market in particular due to the large overhang of pending supply,” according to Michael Hanley, an RICS economist.
The Calgary market
was identified by those polled as being at risk of a price correction due to the supply pipeline.
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Canadian construction professionals are more optimistic now than they were in the last quarter but are concerned that the forthcoming federal election may halt some infrastructure projects.