According to the latest census, Burlington, Ontario's vital stats are as follows:

• Burlington population: 164,415, large increase in the previous 5 years from 150,836
• Population forecast: by 2011 expected to increase to 175,800
• Dwelling units: 63,159, increase from 59,020 5 years previous
• Forecast: 68,159 units by 2011
• Average individual income: $41,070
• Average household income: $83,729

Source: City of Burlington statistics

Burlington 2008 Housing Outlook

The CMHC reports that Burlington's housing market has sustained steady growth and continues to attract buyers as it is still a relatively new city. This trend is evident in its population growth which has outpaced the national average. Large, single-detached homes on sizeable lots and a diversity of condominium apartment sizes and types are popular in Burlington and suitable for many households including young professionals, families, empty nesters and retirees. Total starts in Burlington last quarter were up 50 per cent as compared to the same time last year, and single-detached starts increased by almost 83 per cent.

The more expensive home markets in Hamilton such as Burlington, Ancaster and Stoney Creek will remain popular among affluent buyers, and in a relatively expensive market such as Burlington, average home prices will rise more quickly. Last quarter, the average price of resale homes in Burlington alone was 28 per cent higher than the average for Hamilton.

CMHC Burlington area mortgage rate forecast