Builders started work on 393 new dwellings in the region last month, a steep drop from the 1,074 starts recorded in December 2020.
Canada Mortgage and Housing Corp.
It's the fourth month in a row that housing starts in the region were behind their pace from 2020.
Federal housing agency said the capital continues to grapple with a lack of supply despite a dip in the number of transactions over the summer compared with the previous year.
It's the third month in a row that new builds lagged behind their pace of a year ago.
Developers started work on 795 new dwellings across the region last month, a 19 per cent drop from a year earlier.
The decrease was primarily due to a relatively low number of multi-residential starts, which can fluctuate from month to month.
Big-box behemoth, whose Canadian subsidiary is headquartered on Hunt Club Road, posted revenues of $30.2 billion in 2020, up 6.6 per cent from a year earlier.
Local builders started work on 588 new units on the Quebec side of the river last month, accounting for the lion’s share of the year-over-year growth across the region.
Agency says resale housing market will “remain robust in 2021,” with average prices expected to reach up to $640,000 – nearly $110,000 above the 2020 average.
Developers in the National Capital Region broke ground on 1,196 new dwelling units last month, up from 634 in March 2020, agency says.