Housing starts rise moderately in January

The seasonally adjusted annual rate of housing starts was 170,400 units, up from 169,000 units in December 2010. According to final figures, actual housing starts for 2010 totalled 189,930 units, with activity moderating towards demographic fundamentals by the final quarter of 2010.

“Housing starts moved slightly higher in January because of an increase in rural starts,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “Single-detached and multiple starts showed a moderate decline.”

Urban starts fell by 1.7 per cent to 146,900 units in January, led by a 19 per cent drop in the Prairies, 7.9 per cent in BC and 1 per cent in Quebec. Urban starts rose in Atlantic Canada by 13.3 per cent and in Ontario by 10.3 per cent.

Rural starts were estimated at a seasonally adjusted annual rate of 23,500 units in January.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

COMMENTS

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Industry news

Submit a press release

Poll

Do you invest in commercial properties?