Housing Starts Increase in Atlantic Region
OTTAWA — Housing starts have picked up in Atlantic Canada, according to the latest stats Canada Mortgage and Housing Corp.
The housing starts in Atlantic urban centres went up to 8,767 in September from 6,177 in August.
Urban housing starts also went up in Quebec, the Prairies, and British Columbia. Ontario was the only province to see a decrease.
“The trend in housing starts is at its highest point since January 2013, as a result of the launch of some major rental housing projects as well as continued strength in condominium construction,” said Bob Dugan, CMHC’s Chief Economist.
“As a result, trend activity is now above the projected annual pace of around 190,000 new households. This underscores the continuing need for inventory management to minimize the number of completed but unsold units.”
Nationally, urban housing starts increased by 7.7 per cent in September to 216,194 units. Multi-unit urban starts increased by 10.5 per cent to 157,919 units in September and the single-detached urban starts segment increased by 0.8 per cent to 58,275 units.
The annual rate of rural starts were estimated at a seasonally adjusted annual rate of 14,507 units.