News
December 19, 2011
Multi-family starts strong
Canada Mortgage and Housing Corporation report housing starts in the month of October were the strongest in a year with a total of 981 units breaking ground during the month, up from 784 in the previous year.
Multi-family production increased from 438 units in October 2010 to 575 this year, the CMHC report says. “Apartments led the way with 451 units breaking ground, tying for the highest number of monthly apartment starts since May 2008,” says CMHC’s Richard Cho. Year-to-year starts are still down, though, as after 10 months only 3,043 multi-family units started construction in 2011, down three per cent from last year.
