According to a new report released by the Canadian Mortgage and Housing Corporation, housing starts were up in March 2011 over February 2011 by about 5,100 units. The actual figures were 188,800 and 183,700 respectively. Signs show balance coming back to the market as certain regions experienced increases and some decreases, with an overall upward trend.
Increases were seen in rural starts, which means smaller communities are growing. Ontario’s multi residential starts offset decreases in British Columbia’s multi residential and Praire single family homes. Urban starts rose by 0.4% to 163,500 units. Rural starts were at 25,300. Urban multi residential starts were up by 6.6% to 101,400 while the single family urban starts fell 8.3% to 62,100. This may continue as a result of densification and cities not having room for single family homes.
British Columbia experienced the largest decrease with 23.4% followed by 19.3% in the Praries. Ontario was up 13.6%, Atlantic Canada 11.5% and Quebec 8.6%.