Builders started work on just 754 new units last month, down from 1,178 in February 2020, the housing agency reported Monday.
Canada Mortgage and Housing Corp.
The average price of a residential-class property jumped 27 per cent to nearly $720,000 last month compared with February 2020.
While nearly half of all homes trading hands in the capital sold for less than $400,000 in 2019, less than a third of all transactions last year were in that price bracket, agency says.
Ottawa homebuilders started work on 450 new dwellings in January, up from 371 starts in the same month in 2020, the federal agency reported this week.
Developers launched 1,074 new builds last month, according to the Canada Mortgage and Housing Corp., up from 854 starts recorded a year earlier.
Ottawa-Gatineau developers started work on 1,496 new builds in November, according to the federal agency, up from the 1,240 starts recorded in November 2019.
Builders started work on 930 new dwellings last month, a drop of more than 20 per cent from the 1,196 starts recorded in October 2019.
New home starts were virtually unchanged in September compared with a year earlier at just over 1,500, housing agency says.
Builders in Ottawa began work on 1,619 new homes last month, a whopping 167 per cent increase over a year earlier, while new starts in Gatineau also rose.
Continuing a recent trend, most of the year-over-year increase was driven by construction on the Ottawa side of the river, where overall starts jumped 24 per cent to 740.