Housing Starts Up According to CMHC


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%.

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About wojciechpianka

After a few years of studying English and History at the University of Toronto, I decided to transfer to Ryerson University and pursue a Bachelor of Commerce degree. While studying, I worked various jobs where I acquired many skills. Starting as a teller at Scotiabank, I moved on to being a manager of a restaurant, admin staff at a medical clinic, a sales agent for INGDirect and a manager at One King West Hotel. While all these jobs challenged me, I never felt my potential being utilized. Finally in 2008, I completed the Ontario Mortgage Agent Course and signed up with The Mortgage Alliance Company of Canada. This was a great decision, as it allowed me to use the skills I learned working to help people achieve their real estate and financial goals. My passion for real estate and numbers has lead me to becoming a mortgage agent. Growing up in New York City, I always had a fascination of historic buildings and skyscrapers. At 21, I bought my 1st property and have been investing in real estate ever since. I firmly believe thru steady, safe and conservative investing a one can obtain long term financial wealth. One day, I hope to develop the same buildings I help clients purchase.
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