According to the results of the latest monthly survey conducted by Canada Mortgage and Housing Corporation (CMHC), residential construction rose by 37 per cent this past month in Quebec’s centres with 10,000 or more inhabitants. In all, 5,125 dwellings were started in April 2012, compared to 3,743 a year earlier. In addition, the seasonally adjusted annual rate of starts for this same month (55,100) was considerably higher than for the month of March (35,200).
The increase in residential construction this past month was attributable to the multiple-unit (semi-detached, row and apartment) housing segment, as single-detached home building fell by 16 per cent.
In the multi-unit housing category, a gain of 67 per cent was registered this past April. In addition, the seasonally adjusted annual rate of starts for April (45,000) rose notably over March (24,600). In the census metropolitan areas (CMAs), multiple-family housing starts were up significantly. “Given the less robust economic conditions and greater supply, we still believe that the pace of apartment starts is bound to slow down,” said Kevin Hughes, Senior Economist at CMHC for Quebec.
According to the survey results, single-detached housing starts once again decreased from the same month in 2011. The 1,132 starts enumerated in this category in April made for a 16-per-cent decrease from April 2011. The seasonally adjusted annual rate of starts for April (10,100) was also lower than for March (10,600). Regionally, the results generally reflected this picture.
The increase in residential construction this past month was attributable to the multiple-unit (semi-detached, row and apartment) housing segment, as single-detached home building fell by 16 per cent.
In the multi-unit housing category, a gain of 67 per cent was registered this past April. In addition, the seasonally adjusted annual rate of starts for April (45,000) rose notably over March (24,600). In the census metropolitan areas (CMAs), multiple-family housing starts were up significantly. “Given the less robust economic conditions and greater supply, we still believe that the pace of apartment starts is bound to slow down,” said Kevin Hughes, Senior Economist at CMHC for Quebec.
According to the survey results, single-detached housing starts once again decreased from the same month in 2011. The 1,132 starts enumerated in this category in April made for a 16-per-cent decrease from April 2011. The seasonally adjusted annual rate of starts for April (10,100) was also lower than for March (10,600). Regionally, the results generally reflected this picture.