OTTAWA, ON, Oct. 16, 2024 /CNW/ - The six-month trend in housing starts decreased 1.9% from 246,972 units in August to 243,759 units in September. The trend measure is a six-month moving average of the seasonally adjusted annual rate (SAAR) of total housing starts for all areas in Canada.
The total monthly SAAR of housing starts for all areas in Canada increased 5% in September (223,808 units) compared to August (213,012 units), according to Canada Mortgage and Housing Corporation (CMHC).
Housing Starts in Canada - All Areas (CNW Group/Canada Mortgage and Housing Corporation (CMHC))
In Canada’s urban centres with a population of 10,000 or greater, there have been 168,897 actual housing starts year-to-date (January – September) in 2024. This compares to 165,559 for the same period in 2023, meaning actual housing starts are currently 2% higher this year.
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"Growth in actual year-to-date housing starts has been driven by both higher multi-unit and single-detached units in Alberta, Quebec and the Atlantic provinces. By contrast, year-to-date starts in Ontario and British Columbia have decreased across all housing types. Despite the increase in housing starts in September, we remain well below what is required to restore affordability in Canada’s urban centres . " said Kevin Hughes, CMHC’s Deputy Chief Economist.