Condominium development in Winnipeg: some aspects of the dynamics of an emerging form of home ownership
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Date
2013-11-14
Authors
Hramiak, Roman John
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Abstract
Condominiums are a relatively new but increasingly important form of
home ownership and a growing segment of the housing supply of urban areas
across North America. The objective of this research is to investigate
the spatial elements and other characteristics of this type of housing
and the nature of its owners in one Canadian city, Winnipeg, Manitoba.
In addition to this primary objective, the thesis seeks to understand the
forces which have affected the popularity of condominiums, their role in
the changing housing needs of the population, and the possible implications
of the growth in condominium popularity with respect to the
city's housing supply and possible future government policy requirements.
A comparative method of analysis is employed. Specifically, data
on the number of condominiums, their locations, and their rate of growth
are compared to similar information on other types of housing. Furthermore,
demographic information and characteristics of Winnipeg's condominium
owners obtained through a survey conducted for this study are
considered in relation to the findings of an earlier Winnipeg study and
national surveys conducted in Canada and the United States.
The analysis shows that the number of condominiums has increased
steadily while other types of housing starts have been declining
dramatically. The condominium supply in Winnipeg is dominated by conversions
of rental properties rather than newly constructed units.
Consequently, the locations of condominiums in Winnipeg parallels the
locations of rental properties.
Information gathered in the survey of condominium owners shows that
They are almost exclusively older couples whose children are now grown
and have left home. These older couples have sold their single family
homes in order to buy smaller homes that require less maintenance,
while they retain the benefits of home ownership. Comparison of this
survey with the findings of the other earlier surveys of condominium
owners exhibits a significant disparity. The majority of owners in the
other surveys were younger couples and households, just starting their
families and making their first home purchase.
The research has identified a major conflict between condominiums
and the city's housing supply. Condominium development is depleting the
rental housing supply in Winnipeg. The rapid decline in apartment
vacancies and the imposition of rent controls are an acknowledgement
of a growing problem for residents who cannot afford or do not wish to
own their housing, and for the City government which must ensure an
adequate supply of affordable rental housing for its residents.
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Keywords
Condominiums