According to the results of the survey conducted in March by Canada Mortgage and Housing Corporation (CMHC), residential construction recorded a significant rise in Quebec this past month. In all, 3,308 dwellings were started in urban centres with 10,000 or more inhabitants, for a rise of 29 per cent from March 2005. This increase was attributable to a jump in the Montréal census metropolitan area (CMA), where starts went up by 45 per cent in relation to the same month last year. "Construction of multi-family housing - especially condominium tenure - was particularly strong in Montreal in March. Elsewhere in Quebec, the results were rather variable," said Kevin Hughes, Senior Economist at CMHC.
In the single-detached home category, Quebec registered a decrease of 10 per cent in March, as 1,177 such dwellings were started, compared to 1,315 in March 2005. This result was due to a decrease in the Montréal CMA, where a decline of 16 per cent resulted in 721 single-detached home starts. The Gatineau (-17 per cent) and Sherbrooke (-12 per cent) regions also saw starts drop, while the other CMAs recorded increases. In total, single-detached starts were down by 11 per cent compared March 2005. Similarly, agglomerations with 50,000 to 99,999 inhabitants recorded a 15 per cent decrease in March.
Multiple housing construction in urban centres saw a notable increase in March (2,131 starts, compared to 1,246 in March 2005). This result was attributable to a sharp rise in the Montréal CMA (1,665 starts, compared to 787 in March 2005). Multiple housing starts were also up in the Gatineau, Sherbrooke and Trois-Rivières regions. During this same period, the Quebec CMA recorded 200 starts compared to 293 in March of 2005, for a 32 per cent drop. As for centres with 50,000 to 99,999 inhabitants, the survey reports a 54 per cent decrease in starts.
"Obviously, the multi-family market is still showing us its strength. And this strength is present across regions as it is across tenure types : freehold (semi-detached and row housing), rental and, of course, condominium tenure. This type of housing, as well as being more affordable than a single detached home, is responding to the needs and preferences of a growing share of the population" added Mr. Hughes.
The March results brought the year-to-date urban starts level to 7,698 units, for a increase of 8 per cent in relation to the first quarter of 2005. The rise is attributable to the strength of the multi-family market. "It is important to recall that this number does not take into account the results in rural regions. Once we factor in rural starts, the provincial total for the first quarter turns out to be lower that a year ago" noted Mr. Hughes.
Canada Mortgage and Housing Corporation (CMHC) has been Canada's national housing agency for over 60 years. CMHC contributes to improving the living conditions and the well-being of Canadians through four areas of housing activities - housing finance, assisted housing, research and information transfer, and export promotion. CMHC is committed to helping Canadians access a wide choice of quality, affordable homes, and making vibrant and sustainable communities and cities a reality across the country. For more information, visit www.cmhc.ca or call 1-800-668-2642.
Quebec housing starts up 29% in March
