Surge in multi-unit starts fuels construction boom, housing agency says.
Canada Mortgage and Housing Corp.
CMHC noted Friday that the number of units already under construction in January was historically high, leaving builders unable to launch many new projects in the month
The number of multiple-unit projects on the go ballooned from 318 to 1,187, a whopping year-over-year rise of 273 per cent
Fuelled by robust employment figures and household earnings growth, Ottawa-Gatineau is expected to buck a national trend toward declining housing starts and sales, CMHC says
The National Capital Region’s homebuilders fell behind the rest of Ontario and Quebec in September.
Housing starts in Ottawa-Gatineau dropped off in July, mirroring a national downturn following near-record highs in new home construction across the country the previous month, according to the Can
Multiple-unit dwellings drove much of the increase in construction, particularly in Ottawa, where unit starts of that type nearly doubled year-over-year to 608.
Ottawa’s robust economy helped dramatically cut the number of unsold housing units in the region over the first three quarters of 2017, the Canada Mortgage and Housing Corp. said in a report released…
Industry watchers had predicted a rebound in housing starts in 2017 following several years of declines.
While Ottawa’s central downtown population grew at the fastest rate last year, data from the city’s annual development report show neighbourhoods just outside of the greenbelt are gaining ground.