Ottawa-Gatineau housing starts up 47% in November: CMHC

starts

Builders working largely on apartments and other multi-unit builds fuelled a 47 per cent increase in Ottawa-Gatineau housing starts last month, according to new data released Monday.

Work started on 1,240 new residential units in the National Capital Region in November, the Canada Mortgage and Housing Corp. reported. That’s up from 840 starts in the same month a  year ago.

The majority of last month’s growth was on the Ottawa side of the river in the multi-residential and semi-detached class, which includes condos, row houses and townhomes. Ottawa saw 657 starts in this class last month, up 86 per cent year-over-year; Gatineau saw a 25 per cent hike in this same category to 291 starts.

Across Canada, the annual pace of housing starts edged higher last month compared with October, although there were declines in five provinces.

The national housing agency says the seasonally adjusted annual rate for November was 201,318 units, up 0.3 per cent from 200,674 units.

CMHC says the six-month moving average of monthly seasonally adjusted rates was 219,047 units, up from 218,253 units in October.

The pace of urban starts in November increased by 0.4 per cent to 188,559 units, on a seasonally adjusted annualized basis, while the rate of rural starts was estimated at 12,759 units. Within urban areas, the rate of starts for multiple-unit dwellings was up 2.3 per cent at 141,753 units, while the rate for single-detached units fell 5.1 per cent to 46,806.

Ontario was one of the provinces to see the pace of starts fall in November, dropping to 60,960 from 70,229. Other declines were seen in P.E.I., Quebec, Manitoba and Saskatchewan.

The annual pace of housing starts in British Columbia rose to 47,087 from 32,993, while the

pace of starts in Alberta climbed to 25,478 from 22,862.

– With files from Canadian Press