While housing starts continued to rise nationally in November, the Ottawa-Gatineau region saw another drop last month, according to the Canada Mortgage and Housing Corp.
The national housing agency reported Monday that Ottawa-Gatineau’s annual pace of housing starts dropped 16 per cent in November compared to October. This follows a 29-per-cent decrease between September and October in the region.
Ottawa-Gatineau reported 13,125 starts last month, compared to 15,714 the month before. The annual pace of multi-unit urban starts declined 24 per cent to 10,860, compared to 14,232 in October.
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Single-unit starts, meanwhile, increased 53 per cent from 1,482 in October to 2,265 in November.
Despite an overall decrease, Ottawa’s pace of housing starts for November improved compared to this time last year. Builders started work on 1,125 new housing units in Ottawa-Gatineau last month, a 31-per-cent increase from the 856 recorded in November 2023.
Multi-unit starts rose 24 per cent from 730 to 905 last month year-over-year, and single-detached starts increased 75 per cent to 220 compared to the 126 recorded in 2023.
Housing starts rise nationally from last month, up eight per cent in November
Nationally, CMHC says the annual pace of housing starts in November rose eight per cent compared with October, helped by strength in multi-unit starts in Quebec, Alberta and B.C.
The national housing agency says the seasonally adjusted annual rate of housing starts came in at 262,443 units in November, up from 242,207 in October.
The increase came as the annual pace of urban starts rose nine per cent to 245,083 in November compared with 224,492 in October.
The annual pace of multi-unit urban starts, such as apartments, condominiums and townhouses, rose 11 per cent to 195,281, while the annual pace of single-detached urban starts increased four per cent to 49,802 units.
With files from The Canadian Press
