A sharp drop off in the construction of apartment, semi-detached and row dwellings helped extend a slow start to the year for the region’s new housing market.
There were 126 new starts last month in the Ottawa area, according to the Canada Mortgage and Housing Corp. That’s down from 172 in January.
The seasonally adjusted numbers told a similar story. The CMHC’s six-month moving average of seasonally adjusted annual rates had housing starts trending at 4,918 in February, a drop off from 6,037 the month before.
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“Seasonally adjusted housing starts continued on a moderating trend in February following an already weak start to the year,” said Sandra Perez Torres, CMHC’s analyst for the region, in a statement.
The vast majority of the new starts were single detached homes.
That category accounted for 82 of the month’s new starts, with the other 44 falling into the rows and semi-detached tier. There were no starts in the apartment category during the month, down from 28 in January.
“Single construction is expected to regain some of its lost ground this year as apartment construction retreats from previous years’ record highs,” said Ms. Perez Torres in the statement.
Nepean saw the most housing construction during the month, followed by Gloucester and Kanata.
