HOUSING STARTS STATS SEE TORONTO SLIPPAGE

Oct 11, 2016

By Michael Kramer

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Canadian housing construction starts accelerated in September –  despite a decline in Ontario.

The Canada Mortgage and Housing Corporation says the seasonally adjusted annual rate of starts was almost 221,000 in September – up from just over 184,000 units in August.

CMHC says construction of urban multiple-unit dwellings such as townhouses, condominiums and apartments were the driving force for the increase in most regions, particularly in Quebec.

But Toronto was an exception, with the rate slipping to around 30,000 units – from a little above 40,000 units in August – mainly as a result of fewer apartment starts.

Quebec saw the largest uptick in housing starts last month – due to the development of new rental apartments for seniors.

There were also increases in British Columbia, the Prairies and Atlantic Canada.

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