You can save this article by registering for free here. Or sign-in if you have an account.
Canada's annual rate of housing starts jumped 11 per cent in September.Photo by Michelle Berg/Postmedia
Article content
Canada’s annual rate of housing starts jumped 11 per cent to 299,589 units in September from 267,443 in August, reaching its highest monthly level since November 2021.
Data from the Canada Mortgage and Housing Corporation released on Tuesday showed the rate of urban starts increased 12 per cent to 276,142 in the month while multi-unit urban starts surged 16 per cent to 216,549 units. The pace of urban starts of single-detached homes remained flat at 59,593 units.
Advertisement 2
Story continues below
This advertisement has not loaded yet, but your article continues below.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
Unlimited online access to articles from across Canada with one account.
Get exclusive access to the Vancouver Sun ePaper, an electronic replica of the print edition that you can share, download and comment on.
Enjoy insights and behind-the-scenes analysis from our award-winning journalists.
Support local journalists and the next generation of journalists.
Daily puzzles including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
Unlimited online access to articles from across Canada with one account.
Get exclusive access to the Vancouver Sun ePaper, an electronic replica of the print edition that you can share, download and comment on.
Enjoy insights and behind-the-scenes analysis from our award-winning journalists.
Support local journalists and the next generation of journalists.
Daily puzzles including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
Access articles from across Canada with one account.
Share your thoughts and join the conversation in the comments.
Montreal, Toronto and Vancouver recorded large increases in multi-unit starts on a seasonally adjusted annual rate (SAAR) basis, which resulted in an overall increase in Canada, Bob Dugan, CMHC’s chief economist said in the report.
“An 85 per cent increase in single-detached units in Vancouver was offset by flat single-detached starts in Toronto and Montreal,” Dugan said, noting that starts remained elevated for the year.
Earlier this month, a CMHC report found Canada lacked the labour capacity needed to build the 3.5 million homes the agency says would be needed to restore housing affordability by 2030.
Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.
This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Service and Privacy Policy.
Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.