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CMHC said the annual rate of housing starts fell by 43% in Montreal and by 24% in Toronto, while in Vancouver the number of housing starts increased by 35%, reflecting a 40% increase in housing starts. (Photo: The Canadian Press)
The annual pace of housing starts in October accelerated compared to September, the Canada Mortgage and Housing Corporation said Thursday.
The country’s seasonally adjusted annual rate of housing starts was 274,681 units last month, up 1% from 270,669 units in September, the federal agency said.
The number of new buildings in urban centers rose by 2% to 257,357 units. In these centers, construction starts for shared housing rose by 1% to 209,887 units and for individual houses by 9% to 47,470 units.
CMHC said the annual rate of housing starts fell by 43% in Montreal and by 24% in Toronto, while in Vancouver the number of housing starts increased by 35%, reflecting a 40% increase in housing starts.
The annual number of housing starts in rural areas was estimated at 17,324 in October.
The six-month moving average monthly seasonally adjusted annual rate of housing starts was 256,280 units in October, up 1% from 253,957 units in September.
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