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Mar 27, 2024 · Total housing starts remained near all-time high in 2023. In 2023, Canada’s 6 largest CMAs recorded a total of 137,915 housing starts. This represented a marginal 0.5% decrease compared to 2022 and was in line with the annual average of around 140,000 units over the past 3 years.
Oct 3, 2024 · New home starts were up by 10% in May 2024 compared to the previous month. Building of new homes was up by 2% in 2023 compared to 2022. Regionally, Toronto and Vancouver have seen the biggest increases in new home starts, up 10% and 15%, respectively between 2024 and 2023. The number of new detached homes being built fell by 20% in Canada in 2023.
Jun 6, 2024 · Nevertheless, new-home construction was down almost every month and in nearly every province in 2023, reflecting the impact of rapidly rising interest rates. By the end of December, over 208,000 new residential units had been started in Canada, reflecting a 6% decline from the same period in 2022.
Feb 1, 2024 · In 2023, the 11- CMA composite for residential building construction costs rose 7.6% on an annual average basis, a deceleration from the double-digit increases observed the year prior. Cost increases varied significantly across CMAs, with Toronto (+12.7%), Halifax (+8.2%) and Vancouver (+7.8%) experiencing the largest cost increases in 2023.
The trend measure is a 6-month moving average of the monthly seasonally adjusted annual rate (SAAR) of total housing starts for all areas in Canada. Actual year-to-date housing starts between January and October 2024 are up 12% in Montréal from the same period last year, showing some recovery from historically low new home construction in 2023.
Feb 15, 2024 · The Canada Mortgage and Housing Corp. says the annual pace of new home construction fell by 10 per cent in January compared to December, as fewer multi-unit urban homes were built. (Jeff McIntosh ...
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Nov 23, 2023 · Accelerating How Communities Build Housing. In March 2023, the government launched the $4 billion Housing Accelerator Fund to help cut red tape and fast-track the creation of at least 100,000 new homes across Canada. The Housing Accelerator Fund is already delivering results—and on its current trajectory, is expected to exceed 100,000 new homes.
