According to the results of the latest monthly survey conducted by Canada Mortgage and Housing Corporation (CMHC), residential construction rose this past month in Quebec's centres with 10,000 or more inhabitants. In all, 1,947 dwellings were started in February 2010, compared to 1,410 a year earlier. However, the seasonally adjusted annual rate of starts for this same month (41,300) was down from the pace recorded in January (48,100).
In Quebec’s census metropolitan areas (CMAs), starts rose by 35 per cent year-over-year in February (to 1,707 units in 2010, from 1,269 in 2009). All CMAs across Quebec, with the exception of the Gatineau area, posted gains during this period. The same was observed in the province’s larger census agglomerations (CAs), as increases were recorded in four of these five centres. “Given the slowdown in residential construction noted a year ago, the major increases in activity registered this past January and February were not at all surprising. The variations should decrease in size as the year progresses, though, considering that starts rebounded over the course of 2009,” said Kevin Hughes, Senior Economist at CMHC for Quebec.
An analysis of the data by housing type revealed that single-detached home construction rose by 15 per cent over February 2009, with half of the CMAs having registered increases. According to the survey results, the Montréal area posted one of the most notable hikes (+47 per cent).
In the multiple-unit housing segment, construction was up by 49 per cent in February over the same month a year earlier (rising to 1,450 units in 2010, from 976 in 2009). This increase in activity was attributable to both apartments and semi-detached and row houses. In the Québec CMA, multi-family housing starts more than doubled this past month compared to the same period last year.
Still according to the survey results, there were more freehold and rental housing starts, but fewer new condominium units, compared to February 2009. In this regard, rental housing construction stood out, with a hike of more than 100 per cent.
For January and February 2010, housing starts in Quebec's centres with 10,000 or more inhabitants were up by 43 per cent over the same period last year (rising to 4,858 units in 2010, from 3,407 in 2009). This result reflected the increases in activity recorded in the multiple-family housing segment (+48 per cent) and, to a lesser extent, in the singledetached home segment (+29 per cent).
In Quebec’s census metropolitan areas (CMAs), starts rose by 35 per cent year-over-year in February (to 1,707 units in 2010, from 1,269 in 2009). All CMAs across Quebec, with the exception of the Gatineau area, posted gains during this period. The same was observed in the province’s larger census agglomerations (CAs), as increases were recorded in four of these five centres. “Given the slowdown in residential construction noted a year ago, the major increases in activity registered this past January and February were not at all surprising. The variations should decrease in size as the year progresses, though, considering that starts rebounded over the course of 2009,” said Kevin Hughes, Senior Economist at CMHC for Quebec.
An analysis of the data by housing type revealed that single-detached home construction rose by 15 per cent over February 2009, with half of the CMAs having registered increases. According to the survey results, the Montréal area posted one of the most notable hikes (+47 per cent).
In the multiple-unit housing segment, construction was up by 49 per cent in February over the same month a year earlier (rising to 1,450 units in 2010, from 976 in 2009). This increase in activity was attributable to both apartments and semi-detached and row houses. In the Québec CMA, multi-family housing starts more than doubled this past month compared to the same period last year.
Still according to the survey results, there were more freehold and rental housing starts, but fewer new condominium units, compared to February 2009. In this regard, rental housing construction stood out, with a hike of more than 100 per cent.
For January and February 2010, housing starts in Quebec's centres with 10,000 or more inhabitants were up by 43 per cent over the same period last year (rising to 4,858 units in 2010, from 3,407 in 2009). This result reflected the increases in activity recorded in the multiple-family housing segment (+48 per cent) and, to a lesser extent, in the singledetached home segment (+29 per cent).