Housing Starts took a big jump in September
Canada Mortgage and Housing Corp. (CMHC) reported that there were 330 total housing starts in September, up 16% from the 284 in the same period last year. The majority of the residential construction last month was in multiple-unit buildings, like apartments, condominiums, row houses, duplexes and townhouses.
|A 75-unit apartment building is currently being constructed, in a modular build, just southwest of Rochdale Crossing and is scheduled for occupancy in January.|
In the Regina area, 212 multiple-unit buildings were started in September which is a 90% increase from the 112 started in the same period in 2012.
Single-family starts were down about one third to 118 units, compared to 172 during September 2012.
September's 330 starts brings total housing starts for the first nine months of 2013 to 2,383, slightly ahead of the 2,220 starts for the first three quarters of 2012. Once again, multi-family dwellings led the way with 1,431 multiples, compared with 1,187 during the same period last year.
Total housing starts were higher in September as local builders increased production of multi-family dwellings. Low rental vacancies in Regina have resulted in a higher number of apartment starts this year. Total housing starts will soon surpass the predicted housing starts of most bank economists of 2,400 for the entire year.