Housing starts up slightly in June: CMHC


“Housing starts increased in June due to an increase in single and multiple starts in Ontario,” Dugan said in a statement released today. “The revised numbers show that housing starts have been above their trend line since March. However, we expect housing starts to move back towards levels consistent with demographic fundamentals in the near term.”

Overall, urban starts increased by 2.2%, year-over-year, to a seasonally adjusted rate of 174,600 units in June, but multiple urban starts dropped by 3.1% to 103,700.

The rate of housing starts rose the most in Ontario, which saw a 24.1% increase, followed by Atlantic Canada, which saw 5.6% increase.

British Columbia, by contrast, saw a major decline, plummeting 27.6% year-over-year.

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?