New townhomes oakville . It hit a nine-year high in June. The number of new housing starts rose slightly to 226777 last month, the sixth consecutive month of increase, compared with 226178 in November.
Dugan (Bob Dugan), chief economist at (CMHC), a Canadian mortgage and housing company, points out that although changes vary from place to place, overall, new home construction has risen steadily to its highest level since 2008. In 2017, the number of multi-storey condominiums and rental apartments in big cities increased by 6.2% over 2016.
According to the report, the number of new housing starts in the Greater Toronto area was close to 39000 in 2017, down 0.7 per cent from 2016. Rising property prices have led buyers to choose urban housing or move to more affordable towns such as Binton. Although construction of multi-storey condominium buildings in 2017 was 5 per cent lower than in 2016, it continued to dominate new housing construction under strong demand from buyers and investors.
The population of Belleville, Ontario is not enough to be counted in 2016, but construction of 104 new houses began in December, the highest in a single month since February 2009, half of which are rental units. The local housing vacancy rate began to fall in 2013, to 2.2% last year, and the number of new housing starts for the whole year was the highest since 1990.
Construction of 19400 multi-storey condominiums and rental apartments began in Montreal in 2017, an event not seen since the late 1980s. This is due to a decline in the inventory of new or second-hand multi-storey condominium buildings, a denser urban population and a reduction in the vacancy rate of rental units.
New home construction in Ottawa in December was the highest since 2009. Construction of multi-storey buildings has doubled compared with 2016, and multi-storey condominiums and rental apartments are evenly split. A strong economy and population stimulate demand and encourage builders to build houses.
