Ottawa-Gatineau’s annual pace of housing starts fell 11 per cent last month compared with September, the Canada Mortgage and Housing Corp. says.
The housing agency says the region’s monthly seasonally adjusted annual rate of housing starts in October was 15,482 units, down from 17,464 the previous month.
The annual pace of multi-unit urban starts declined 16 per cent to 13,176, while the rate of single-detached urban starts jumped 29 per cent to 2,306.
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Builders started work on 1,349 new housing units in Ottawa-Gatineau last month, a 21 per cent drop from a year earlier and down from the 1,499 starts recorded in September.
Single-detached starts dropped 42 per cent compared with the previous year to 251, while multi-unit starts declined 14 per cent year-over-year to 1,098.
Nationally, CMHC says the annual pace of housing starts for October ticked up from September.
The national housing agency says the seasonally adjusted annual rate of housing starts in October came in at 274,681, up one per cent from 270,669 in September.
The increase came as the pace of urban housing starts rose two per cent to 257,357 units, with multi-unit urban starts up one per cent at 209,887 and single-detached urban starts up nine per cent at 47,470.
CMHC says the annual pace of housing starts in Montreal fell 43 cent and Toronto saw a 24 per cent decline, while the pace of starts in Vancouver rose 35 per cent, boosted by a 40 per cent increase in multi-unit starts.
The annual pace of rural starts for October was estimated at 17,324.
The six-month moving average of the monthly seasonally adjusted annual rate of housing starts in October was 256,280, up one per cent from 253,957 in September.
– With additional reporting from the Canadian Press
