National housing starts saw a significant increase in November, jumping 9.4% according to the CMHC. However, the story in Ontario, including the GTA, tells a different tale. While Quebec and the Atlantic and Prairie provinces experienced a construction surge, Ontario and British Columbia continue to struggle, impacting the overall six-month trend which saw a decline.
Despite a national year-to-date increase of 4% in actual starts in centres with populations of 10,000 or more, CMHC’s deputy chief economist Kevin Hughes notes a slowing momentum in residential construction, particularly in Ontario. The federal government’s ambitious goal of 500,000 new homes annually remains a challenge. For a deeper dive into the national figures and expert analysis, read the full article on mpamag.com.
Read the original story here: https://www.mpamag.com/ca/mortgage-industry/market-updates/canada-housing-starts-jump-in-november/560146
