According to the results of the latest monthly survey conducted by Canada Mortgage and Housing Corporation (CMHC), residential construction increased this past month in Quebec’s centres with 10,000 or more inhabitants. In all, 4,052 dwellings were started in May 2010, compared to 3,699 a year earlier. The seasonally adjusted annual rate of starts for this same month (40,800) was down, however, from the pace recorded in April (46,900). “This slowdown in housing starts was in line with our forecasts. In fact, we were expecting that the end of earlier-than-planned house purchases would be felt on the new home market,” said Kevin Hughes, Senior Economist at CMHC for Quebec.
The increase in starts noted in Quebec in May reflected the overall conditions observed in the census metropolitan areas (CMAs) across the province. That being said, more marked gains were noted in Saguenay (+28 per cent) and Trois-Rivières (hike of over 100 per cent), while the Québec CMA registered a decrease of 8 per cent from the same period last year.
Single-detached home building increased in all of Quebec’s CMAs, except Sherbrooke, with the strongest growth having been recorded in Gatineau. Overall, foundations were laid for 1,160 single-detached homes in centres with 100,000 or more inhabitants, for a gain of 10 per cent.
In the multiple-unit housing segment, residential construction was up in five of Quebec’s six CMAs. In this regard, the Saguenay, Sherbrooke and Trois-Rivières CMAs stood out with much higher starts volumes than a year earlier.
As for the larger census agglomerations (CAs), the survey results revealed that starts in these centres posted a notable year-over-year increase in May (from 209 units in 2009 to 360 in 2010). This was another month where both single-detached home building (+40 per cent) and multi-family housing construction (gain of more than 100 per cent) accounted for the growth.
increases in starts were much less significant this past May in the case of units intended for the freehold market (+18 per cent) and the condominium segment (+7 per cent). The construction of dwellings intended for the rental market even decreased during this period (-13 per cent).
From January to May 2010, housing starts in Quebec’s centres with 10,000 or more inhabitants were up by 31 per cent over the same period last year (rising to 16,800 units in 2010, from 12,847 in 2009). This result reflected the increases in both multiple-family housing construction (+33 per cent) and single-detached home building (+27 per cent).
The increase in starts noted in Quebec in May reflected the overall conditions observed in the census metropolitan areas (CMAs) across the province. That being said, more marked gains were noted in Saguenay (+28 per cent) and Trois-Rivières (hike of over 100 per cent), while the Québec CMA registered a decrease of 8 per cent from the same period last year.
Single-detached home building increased in all of Quebec’s CMAs, except Sherbrooke, with the strongest growth having been recorded in Gatineau. Overall, foundations were laid for 1,160 single-detached homes in centres with 100,000 or more inhabitants, for a gain of 10 per cent.
In the multiple-unit housing segment, residential construction was up in five of Quebec’s six CMAs. In this regard, the Saguenay, Sherbrooke and Trois-Rivières CMAs stood out with much higher starts volumes than a year earlier.
As for the larger census agglomerations (CAs), the survey results revealed that starts in these centres posted a notable year-over-year increase in May (from 209 units in 2009 to 360 in 2010). This was another month where both single-detached home building (+40 per cent) and multi-family housing construction (gain of more than 100 per cent) accounted for the growth.
increases in starts were much less significant this past May in the case of units intended for the freehold market (+18 per cent) and the condominium segment (+7 per cent). The construction of dwellings intended for the rental market even decreased during this period (-13 per cent).
From January to May 2010, housing starts in Quebec’s centres with 10,000 or more inhabitants were up by 31 per cent over the same period last year (rising to 16,800 units in 2010, from 12,847 in 2009). This result reflected the increases in both multiple-family housing construction (+33 per cent) and single-detached home building (+27 per cent).