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Canada Housing Starts: June Sees Another Spike, Driven By Urban Multiple Units, CMHC Says

Urban housing starts rose over most of Canada’s cities in June. In Atlantic Canada, urban housing starts rose by 7.7 percent. If you’re a savvy investor, you really ought to take a look at our positive cash flow project in Fredericton, New Brunswick!

 

 

 

Canada Housing Starts: June Sees Another Spike, Driven By Urban Multiple Units, CMHC Says

OTTAWA – Canada Mortgage and Housing Corp. says the pace of housing starts rose in June, driven by urban multiple starts — condos, apartments and the like.

The federal agency estimates there were 20,327 actual starts in June across the country, up from 18,494 in June 2011.

Tweaked to remove monthly variations, that produced a seasonally adjusted annual figure of 222,700 last month, up from 217,400 in May.

Urban starts increased by 2.6 per cent to 199,500 units in June on a seasonally adjusted basis, with urban single starts off 0.3 per cent and multiple starts up 4.1 per cent to 132,000.

Urban starts for June rose 7.7 per cent in Atlantic Canada, 17.3 per cent in Quebec and by 31.2 per cent in British Columbia.

The number of starts slipped by 6.9 per cent in the Prairies and by nine per cent in Ontario.

Read the original article: http://www.huffingtonpost.ca/2012/07/10/canada-housing-starts-june_n_1661482.html

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