Latest news with #KevinHughes
Global News
5 days ago
- Business
- Global News
Tale of two cities: Why Edmonton builds homes faster than Toronto
Canada started building only slightly more homes in June than it did in May, the Canada Mortgage and Housing Corp. (CMHC) said on Wednesday. Compared to May, the annual rate of housing starts was largely flat with a 0.4 per cent increase, but it rose 14 per cent compared to this time last year. The national numbers mask stark regional disparities, however. 'Through the first six months of the year, national housing starts have increased marginally compared to 2024, however, new home construction varies significantly across Canada,' said Kevin Hughes, deputy chief economist at CMHC. Over the first six months of 2024, Edmonton started building 8,448 homes. That compares to 10,868 in the first six months this year — a jump of 29 per cent. Calgary also saw a significant improvement in the first six months of this year with a 32 per cent jump in housing starts to 14,712 compared to 11,178 in the first half of 2024. Story continues below advertisement 'Calgary and Edmonton have just been streets ahead of other cities and (especially) a lot of cities in Ontario, for instance, in making their zoning bylaws simpler as well as less restrictive,' said Carolyn Whitzman, senior housing researcher and adjunct professor at University of Toronto School of Cities. One of the biggest laggards when it comes to housing starts is the country's largest city. In the first months of 2024, Toronto started building 22,529 homes. This year, that number has dropped to 12,575 — a 44 per cent decline. 'Edmonton is one of the fastest cities in Canada when it comes to approving new housing and communities in the GTA (Greater Toronto Area) are amongst the slowest. And that is certainly playing a role here,' said Mike Moffatt, founding director of the Missing Middle Initiative at the University of Ottawa. 'Toronto doesn't seem to be waking up and smelling the coffee,' Whitzman said, adding that cities such as Calgary and Edmonton end up with more housing starts because they prioritize building 'missing middle' housing. In many Canadian cities, strict zoning laws mean developers can build either single-family homes or condo towers. Homes that are neither — such as sixplexes and fourplexes — are often referred to as the 'missing middle' by advocates and researchers. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy 'Most of the homes that we've built over the last 40 or 50 years have been one of two varieties. They've been either single detached homes or they've been highrise condos. And both of those markets are having problems right now in our more expensive cities,' Moffatt said. Story continues below advertisement He added, 'Single detached homes have become so expensive, (many) middle class families can't afford them. And highrises serve a particular market and that's not really in demand right now.' A large part of Edmonton's success comes down to its approach to zoning, Whitzman said, an issue where Toronto seems to lag. Last week, the city council voted against a zoning bylaw that would limit mid-block infills to a maximum of eight units. 'Toronto is still betting on big, big, big condos that aren't doing well,' she said. 'Last week, a proposal that had been agreed on with the federal government to OK six units as-of-right with no parking minimums got restricted to a relatively small part of the central city. That gives you a sense of different kinds of approaches that different cities are taking.' Whitzman was referring to a Toronto city council decision that allowed the building of sixplexes in only nine city wards, with suburbs having the choice to opt in. In the rest of southern Ontario, the housing starts data is a mixed bag, with cities such as Hamilton and Ottawa building more than they did last year while others are building less., Meanwhile, British Columbia has started building more houses in two of the most expensive markets in the country. Vancouver saw 3,079 housing starts last month, compared to 1,767 in June last year, marking an increase of 74 per cent. Meanwhile, Victoria saw an increase of 187 per cent in housing starts. Whitzman said provincial support for the housing sector can be a major driver of housing starts. Story continues below advertisement B.C. is betting big on prefabricated or modular housing. In September last year, B.C. released a catalogue of pre-approved housing designs for prefab housing. Pre-fabricated housing or prefab construction is a method of building where the bulk of the construction happens off-site, often in a facility like a factory. Either a fully-constructed modular home or parts of a house are then shipped off to the location, where it is assembled and connected to utilities. '[B.C. has] got a much better sense of housing targets (compared to Ontario). It's providing much more funding to non-market developers. Some of the development in B.C., I can say with confidence, is non-market development, assisted by B.C.,' Whitzman said. Next week, Vancouver city council will consider rezoning 4,294 parcels of land in central parts of the city to allow larger buildings, including highrises. 1:58 New realtor trends emerging as housing market cools National picture While the country is building more houses than it did last year, experts still worry it is not nearly enough. Story continues below advertisement 'It's hard to get excited about June's housing starts. They were up 14 per cent year-over-year, which sounds impressive, but it adds up to about 2,700 units. That's not the kind of growth the country can really celebrate at this point,' said Clay Jarvis, mortgage expert at NerdWallet Canada. The slight 0.4 per cent increase compared to last month is meager, he continued. 'Any increase builders can notch in the current economic climate is somewhat of a win, but it's not moving the needle.' Jarvis added that U.S. President Donald Trump's trade war is also going to add more pressure on developers counting costs. 'It's hard to see starts taking a leap while the trade war with the U.S. drags on,' he said. 'Developers were already facing high building costs before Trump's tariffs were announced, and now they don't know how much it'll cost to complete their projects. That's a lot of risk to take on when there are millions of dollars at stake,' Jarvis said.
Cision Canada
16-07-2025
- Business
- Cision Canada
Housing starts for June 2025 Français
OTTAWA, ON, July 16, 2025 /CNW/ - The six-month trend in housing starts increased (3.6%) in June (253,081 units), according to Canada Mortgage and Housing Corporation (CMHC). The trend measure is a six-month moving average of the seasonally adjusted annual rate (SAAR) of total housing starts for all areas in Canada. Actual housing starts were up 14% year-over-year in centres with a population of 10,000 or greater, with 23,282 units recorded in June, compared to 20,509 units in June 2024. The year-to-date total was 114,411, up 4% from the same period in 2024. The total monthly SAAR of housing starts for all areas in Canada was flat (0.4%) in June (283,734 units) compared to May (282,705 units). "Through the first six months of the year, national housing starts have increased marginally compared to 2024, however, new home construction varies significantly across Canada. Québec and the Prairie provinces have accelerated the pace of construction for single-detached homes and purpose-built rentals. By contrast, weak condo market conditions in Toronto and Vancouver have contributed to declines in overall housing starts in these regions," said Kevin Hughes, CMHC's Deputy Chief Economist. Key Facts: The monthly SAAR for Canada's centres with a population of 10,000 or greater was flat in June (261,705 units) compared to May (260,947 units). The rural starts monthly SAAR estimate was 22,029 units. Among Canada's big three cities, Vancouver recorded a 74% increase in starts this month, driven by higher multi-unit starts. Montreal posted an 8% year-over-year decrease in actual housing starts compared to June 2024, driven by fewer multi-unit starts. A decrease in multi-unit starts drove the 40% year-over-year decrease in Toronto's housing starts compared to June 2024. Monthly Housing Starts and Other Construction Data are accessible in English and French on our website and the CMHC Housing Market Information Portal. Housing starts data is available on the eleventh business day each month. We will release the July housing starts data on August 18 at 8:15 AM ET. CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and to obtain a clearer picture of upcoming new housing supply. In some situations, analyzing only SAAR data can be misleading, as the multi-unit segment largely drives the market and can vary significantly from one month to the next. Read about our definitions and methodology to better understand the foundations of the Starts and Completions and Market Absorption surveys. Housing starts facilitate the analysis of monthly, quarterly, and year-over-year activity in the new home market. The data we collect as part of our Starts and Completions and Market Absorption surveys helps us obtain a clearer picture of upcoming new housing supply and is used as part of our various housing reports. CMHC plays a critical role as a national convenor to promote stability and sustainability in Canada's housing finance system. Our mortgage insurance products support access to home ownership and the creation and maintenance of rental supply. We actively support the Government of Canada in delivering on its commitment to make housing more affordable. Our research and data help inform housing policy. By facilitating cooperation between all levels of government, private and non-profit sectors, we contribute to advancing housing affordability, equity, and climate compatibility. Table 2 Housing Start Data in Centres 10,000 Population and Over January - June 2024 - 2025 Area Single-Detached All Others Total Province 2024 2025 % 2024 2025 % 2024 2025 % N.L. 254 274 8 104 179 72 358 453 27 P.E.I. 73 124 70 516 444 -14 589 568 -4 N.S. 692 691 0 3,454 3,257 -6 4,146 3,948 -5 N.B. 344 325 -6 1,618 1,747 8 1,962 2,072 6 Atlantic 1,363 1,414 4 5,692 5,627 -1 7,055 7,041 0 Que. 1,954 2,081 6 17,225 23,774 38 19,179 25,855 35 Ont. 5,500 4,412 -20 30,871 22,956 -26 36,371 27,368 -25 Man. 773 1,066 38 1,803 1,931 7 2,576 2,997 16 Sask. 524 789 51 992 2,002 102 1,516 2,791 84 Alta. 6,949 7,792 12 14,561 20,110 38 21,510 27,902 30 Prairies 8,246 9,647 17 17,356 24,043 39 25,602 33,690 32 B.C. 2,114 1,874 -11 20,172 18,583 -8 22,286 20,457 -8 Canada 19,177 19,428 1 91,316 94,983 4 110,493 114,411 4 Metropolitan Areas Abbotsford-Mission 83 78 -6 471 1,194 154 554 1,272 130 Barrie 198 75 -62 127 155 22 325 230 -29 Belleville - Quinte West 87 68 -22 91 184 102 178 252 42 Brantford 91 171 88 17 1,054 ## 108 1,225 ## Calgary 3,343 3,548 6 7,835 11,164 42 11,178 14,712 32 Chilliwack 69 68 -1 260 250 -4 329 318 -3 Drummondville 70 120 71 261 481 84 331 601 82 Edmonton 2,958 3,448 17 5,490 7,420 35 8,448 10,868 29 Fredericton 100 87 -13 114 402 253 214 489 129 Greater/Grand Sudbury 38 26 -32 24 88 267 62 114 84 Guelph 25 11 -56 164 35 -79 189 46 -76 Halifax 373 365 -2 3,150 2,956 -6 3,523 3,321 -6 Hamilton 147 127 -14 888 765 -14 1,035 892 -14 Kamloops 60 50 -17 110 126 15 170 176 4 Kelowna 156 135 -13 2,558 1,679 -34 2,714 1,814 -33 Kingston 93 86 -8 66 715 ## 159 801 404 Kitchener-Cambridge-Waterloo 214 152 -29 1,427 1,079 -24 1,641 1,231 -25 Lethbridge 106 173 63 183 190 4 289 363 26 London 264 238 -10 1,457 543 -63 1,721 781 -55 Moncton 91 107 18 994 1,094 10 1,085 1,201 11 Montréal 518 617 19 8,855 12,075 36 9,373 12,692 35 Nanaimo 83 47 -43 628 163 -74 711 210 -70 Oshawa 222 147 -34 836 172 -79 1,058 319 -70 Ottawa-Gatineau 784 776 -1 3,567 5,643 58 4,351 6,419 48 Gatineau 165 154 -7 1,353 1,115 -18 1,518 1,269 -16 Ottawa 619 622 0 2,214 4,528 105 2,833 5,150 82 Peterborough 78 28 -64 40 3 -93 118 31 -74 Québec 271 340 25 3,317 4,458 34 3,588 4,798 34 Red Deer 31 68 119 247 216 -13 278 284 2 Regina 111 170 53 558 769 38 669 939 40 Saguenay 112 112 - 112 209 87 224 321 43 St. Catharines-Niagara 365 205 -44 517 740 43 882 945 7 Saint John 84 81 -4 312 118 -62 396 199 -50 St. John's 218 256 17 94 172 83 312 428 37 Saskatoon 381 582 53 430 1,145 166 811 1,727 113 Sherbrooke 135 120 -11 567 692 22 702 812 16 Thunder Bay 23 29 26 38 37 -3 61 66 8 Toronto 1,789 1,465 -18 20,740 11,110 -46 22,529 12,575 -44 Trois-Rivières 71 88 24 486 632 30 557 720 29 Vancouver 1,057 944 -11 13,221 11,827 -11 14,278 12,771 -11 Victoria 143 126 -12 1,763 2,213 26 1,906 2,339 23 Windsor 163 150 -8 902 265 -71 1,065 415 -61 Winnipeg 650 978 50 1,720 1,663 -3 2,370 2,641 11 Total 15,855 16,462 4 84,637 85,896 1 100,492 102,358 2 1Data for 2022 based on 2016 Census Definitions and data for 2023, 2024 and 2025 based on 2021 Census Definitions. Source: CMHC Starts and Completion Survey, Market Absorption Survey Housing Start Data in Centres 10,000 Population and Over Single-Detached All Others Total June 2024 June 2025 % June 2024 June 2025 % June 2024 June 2025 % Provinces (10,000+) N.-L. 96 81 -16 36 40 11 132 121 -8 P.E.I. 6 24 ## 38 15 -61 44 39 -11 N.S. 178 212 19 769 505 -34 947 717 -24 N.B. 124 122 -2 358 531 48 482 653 35 Atlantic 404 439 9 1,201 1,091 -9 1,605 1,530 -5 Qc 434 507 17 4,561 4,351 -5 4,995 4,858 -3 Ont. 1,142 1,155 1 4,539 4,076 -10 5,681 5,231 -8 Man. 160 196 23 563 247 -56 723 443 -39 Sask. 154 155 1 217 237 9 371 392 6 Alta. 1,586 1,429 -10 2,205 3,934 78 3,791 5,363 41 Prairies 1,900 1,780 -6 2,985 4,418 48 4,885 6,198 27 B.C. 484 407 -16 2,859 5,058 77 3,343 5,465 63 Canada (10,000+) 4,364 4,288 -2 16,145 18,994 18 20,509 23,282 14 Metropolitan Areas Abbotsford-Mission 12 20 67 29 292 ## 41 312 ## Barrie 34 30 -12 38 34 -11 72 64 -11 Belleville - Quinte West 19 25 32 8 19 138 27 44 63 Brantford 4 67 ## 4 121 ## 8 188 ## Calgary 719 579 -19 1,247 1,721 38 1,966 2,300 17 Chilliwack 11 14 27 104 9 -91 115 23 -80 Drummondville 15 29 93 85 144 69 100 173 73 Edmonton 737 650 -12 738 2,039 176 1,475 2,689 82 Fredericton 37 41 11 43 168 291 80 209 ## Greater/Grand Sudbury 0 11 ## 0 14 ## 0 25 ## Guelph 7 3 -57 30 10 -67 37 13 -65 Halifax 97 99 2 695 401 -42 792 500 -37 Hamilton 19 53 ## 6 74 ## 25 127 ## Kamloops 6 4 -33 6 16 167 12 20 67 Kelowna 38 30 -21 572 632 10 610 662 9 Kingston 28 24 -14 7 497 ## 35 521 ## Kitchener-Cambridge-Waterloo 47 36 -23 538 24 -96 585 60 -90 Lethbridge 17 49 ## 15 10 -33 32 59 84 London 77 69 -10 129 292 126 206 361 75 Moncton 27 41 52 197 285 45 224 326 46 Montréal 121 149 23 2,841 2,580 -9 2,962 2,729 -8 Nanaimo 17 14 -18 62 40 -35 79 54 -32 Oshawa 32 42 31 214 26 -88 246 68 -72 Ottawa-Gatineau 184 141 -23 487 1,039 113 671 1,180 76 Gatineau 36 57 58 107 100 -7 143 157 10 Ottawa 148 84 -43 380 939 147 528 1,023 94 Peterborough 42 6 -86 24 0 ### 66 6 -91 Québec 68 54 -21 761 534 -30 829 588 -29 Red Deer 4 20 ## 5 19 280 9 39 ## Regina 37 39 5 91 48 -47 128 87 -32 Saguenay 25 28 12 24 8 -67 49 36 -27 St. Catharines-Niagara 37 45 22 33 272 ## 70 317 ## Saint John 36 27 -25 68 41 -40 104 68 -35 St. John's 86 73 -15 33 37 12 119 110 -8 Saskatoon 112 111 -1 126 177 40 238 288 21 Sherbrooke 29 29 - 194 257 32 223 286 28 Thunder Bay 9 15 67 6 6 - 15 21 40 Toronto 324 360 11 2,523 1,341 -47 2,847 1,701 -40 Trois-Rivières 17 17 - 80 93 16 97 110 13 Vancouver 300 190 -37 1,467 2,889 97 1,767 3,079 74 Victoria 22 43 95 312 917 194 334 960 ## Windsor 58 42 -28 305 126 -59 363 168 -54 Winnipeg 130 184 42 549 182 -67 679 366 -46 Total 3,641 3,503 -4 14,696 17,434 19 18,337 20,937 14 Data for 2022 based on 2016 Census Definitions and data for 2023, 2024 and 2025 based on 2021 Census Definitions. Source: CMHC Starts and Completion Survey, Market Absorption Survey ## not calculable / extreme value Housing Start Data - Seasonally Adjusted at Annual Rates (SAAR) Single-Detached All Others Total May 2025 June 2025 % May 2025 June 2025 % May 2025 June 2025 % Provinces (10,000+) N.L. 748 611 -18 382 476 25 1,130 1,087 -4 P.E.I. 248 351 42 96 180 88 344 531 54 N.S. 1,795 2,023 13 6,927 6,023 -13 8,722 8,046 -8 N.B. 932 817 -12 5,442 6,294 16 6,374 7,111 12 Qc 4,308 4,626 7 54,404 46,056 -15 58,712 50,682 -14 Ont. 9,902 12,212 23 58,453 46,830 -20 68,355 59,042 -14 Man. 2,224 2,136 -4 6,132 2,964 -52 8,356 5,100 -39 Sask. 1,895 1,729 -9 3,456 2,844 -18 5,351 4,573 -15 Alta. 16,441 14,289 -13 50,791 47,050 -7 67,232 61,339 -9 B.C. 3,844 3,880 1 32,527 60,314 85 36,371 64,194 76 Canada (10,000+) 42,337 42,674 1 218,610 219,031 0 260,947 261,705 0 Canada (All Areas) 56,216 56,645 1 226,487 227,086 0 282,705 283,734 0 Metropolitan Areas Abbotsford-Mission 152 218 43 540 3,504 ## 692 3,722 438 Barrie 281 252 -10 276 408 48 557 660 18 Belleville - Quinte West 103 203 97 0 228 ## 103 431 318 Brantford 0 735 ## 4,236 1,452 -66 4,236 2,187 -48 Calgary 7,037 6,195 -12 28,776 20,652 -28 35,813 26,847 -25 Chilliwack 185 183 -1 185 108 -42 233 291 25 Drummondville 212 294 39 996 1,728 73 1,208 2,022 67 Edmonton 7,317 6,078 -17 18,204 24,468 34 25,521 30,546 20 Fredericton 235 239 2 1,308 2,016 54 1,543 2,255 46 Greater/Grand Sudbury 95 180 89 828 168 -80 923 348 -62 Guelph 2 12 ## 216 120 -44 218 132 -39 Halifax 783 710 -9 5,856 4,812 -18 6,639 5,522 -17 Hamilton 244 535 ## 792 888 12 1,036 1,423 37 Kamloops 41 51 24 48 192 300 89 243 173 Kelowna 362 257 -29 4,548 7,584 67 4,910 7,841 60 Kingston 225 220 -2 24 5,964 ## 249 6,184 ## Kitchener-Cambridge-Waterloo 237 278 17 444 288 -35 681 566 -17 Lethbridge 511 463 -9 456 120 -74 967 583 -40 London 278 842 ## 312 3,504 ## 590 4,346 ## Moncton 290 310 7 3,144 3,420 9 3,434 3,730 9 Montréal 1,228 1,162 -5 30,366 30,806 1 31,594 31,968 1 Nanaimo 40 123 ## 216 480 122 256 603 136 Oshawa 387 416 7 528 312 -41 915 728 -20 Ottawa-Gatineau 1,190 1,618 36 11,196 12,468 11 12,386 14,086 14 Gatineau 376 689 83 4,668 1,200 -74 5,044 1,889 -63 Ottawa 814 929 14 6,528 11,268 73 7,342 12,197 66 Peterborough 70 74 6 0 0 - 70 74 6 Québec 913 575 -37 23,424 6,408 -73 24,337 6,983 -71 Red Deer 90 262 ## 2,160 228 -89 2,250 490 -78 Regina 381 379 -1 336 576 71 717 955 33 Saguenay 244 198 -19 600 96 -84 844 294 -65 St. Catharines-Niagara 438 598 37 936 3,264 249 1,374 3,862 181 Saint John 193 164 -15 600 492 -18 793 656 -17 St. John's 650 534 -18 360 444 23 1,010 978 -3 Saskatoon 1,450 1,173 -19 2,988 2,124 -29 4,438 3,297 -26 Sherbrooke 222 250 13 660 3,084 367 882 3,334 278 Thunder Bay 108 115 6 132 72 -45 240 187 -22 Toronto 4,490 4,716 5 38,424 16,092 -58 42,914 20,808 -52 Trois-Rivières 127 102 -20 3,756 1,116 -70 3,883 1,218 -69 Vancouver 1,978 1,802 -9 19,116 34,668 81 21,094 36,470 73 Victoria 157 557 ## 4,344 11,004 153 4,501 11,561 157 Windsor 409 368 -10 372 1,512 306 781 1,880 141 Winnipeg 1,996 1,959 -2 5,988 2,184 -64 7,984 4,143 -48 Data for 2022 based on 2016 Census Definitions and data for 2023, 2024 and 2025 based on 2021 Census Definitions. SOURCE Canada Mortgage and Housing Corporation (CMHC)
Yahoo
15-05-2025
- Business
- Yahoo
Housing starts for April 2025
OTTAWA, ON, May 15, 2025 /CNW/ - The six-month trend in housing starts increased 2.4% in April to 240,905 units, according to Canada Mortgage and Housing Corporation (CMHC). The trend measure is a six-month moving average of the seasonally adjusted annual rate (SAAR) of total housing starts for all areas in Canada. The total monthly SAAR of housing starts for all areas in Canada increased 30% in April (278,606 units) compared to March (214,205 units). Actual housing starts were up 17% year-over-year in centres with a population of 10,000 or greater, with 21,720 units recorded in April, compared to 18,539 in April 2024. This marks the highest actual housing starts for the month of April on record, and pushed the year-to-date total to 67,022, down 2% from the same period in 2024. "The increased starts activity in April was driven by increases across all housing types in Québec and the Prairie provinces, while starts in Ontario and British Columbia declined on a year-over-year basis again this month. The current economic uncertainty will have consequences for the supply and demand of new housing. CMHC will be monitoring these effects closely over the coming months," said Kevin Hughes, CMHC's Deputy Chief Economist. Key Facts: The monthly SAAR for Canada's centres with a population of 10,000 or greater increased 28% in April (259,788 units) compared to March (202,668 units). The rural starts monthly SAAR estimate was 18,818 units. Among Canada's big three cities, Montreal posted a 64% year-over-year increase in actual housing starts compared to April 2024, primarily driven by more multi-unit starts. Vancouver recorded a 6% increase in starts this month, also driven by higher multi-unit starts. Conversely, a decrease in multi-unit starts drove the 25% year-over-year decrease in Toronto's housing starts compared to last April. Monthly Housing Starts and Other Construction Data are accessible in English and French on our website and the CMHC Housing Market Information Portal. Housing starts data is available on the eleventh business day each month. We will release the May housing starts data on June 16 at 8:15 AM ET. CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and to obtain a clearer picture of upcoming new housing supply. In some situations, analyzing only SAAR data can be misleading, as the multi-unit segment largely drives the market and can vary significantly from one month to the next. Read about our definitions and methodology to better understand the foundations of the Starts and Completions and Market Absorption surveys. Housing starts facilitate the analysis of monthly, quarterly, and year-over-year activity in the new home market. The data we collect as part of our Starts and Completions and Market Absorption surveys helps us obtain a clearer picture of upcoming new housing supply and is used as part of our various housing reports. CMHC plays a critical role as a national convenor to promote stability and sustainability in Canada's housing finance system. Our mortgage insurance products support access to home ownership and the creation and maintenance of rental supply. We actively support the Government of Canada in delivering on its commitment to make housing more affordable. Our research and data help inform housing policy. By facilitating cooperation between all levels of government, private and non-profit sectors, we contribute to advancing housing affordability, equity, and climate compatibility. Follow us on X (formerly Twitter), YouTube, LinkedIn, Facebook and Instagram. Related Links: Housing starts for March 2025 2025 Housing Market Outlook 2024 Rental Market Report Solving the housing crisis is a marathon not a sprint High housing costs making it harder to move for jobs many are seeking Canada's potential capacity for housing construction SOURCE Canada Mortgage and Housing Corporation (CMHC) View original content to download multimedia:
Global News
15-05-2025
- Business
- Global News
Canadian housing starts up 30% in April and led by big cities, CMHC says
Canadian homebuilders were busy last month getting started on new housing units, with a 30 per cent increase in April compared to March as the housing crisis remains top of mind for many. The Canada Mortgage and Housing Corporation reports the number of new home projects that got started last month totaled 278,606 units, up from 214,205 units in March. A 'unit' is considered any residential home as small as a single apartment in a duplex or a highrise condominium up to a single detached house. Increases in home construction were led by cities with a population of more than 10,000 people and more specifically by 'multi-unit' developments, which includes any building with two or more residential units such as a duplex or apartment building, the data shows. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy Housing starts in those cities were up 28 per cent in April compared to March, and up 17 per cent compared to the same period in 2024. Story continues below advertisement 4:38 Tariffs to put more pressure on food prices Housing starts in some of the biggest cities in Canada included Montreal with the biggest increase by 64 per cent, while Toronto saw a decline by 25 per cent. Meanwhile, in Vancouver housing starts increased a more modest six per cent. 'The increased starts activity in April was driven by increases across all housing types in Quebec and the Prairie provinces, while starts in Ontario and British Columbia declined on a year-over-year basis again this month,' said Kevin Hughes, CMHC's deputy chief economist. Rural areas also saw a big boost in housing starts, climbing from 10,870 units in March to 18,818 in April. Although a good sign that there could soon be more homes available to buy, many Canadians are putting off big purchases like a new house or apartment because of the economic uncertainty surrounding the trade war. Story continues below advertisement 'The current economic uncertainty will have consequences for the supply and demand of new housing. CMHC will be monitoring these effects closely over the coming months,' said Hughes.
Yahoo
15-05-2025
- Business
- Yahoo
Housing starts for April 2025
OTTAWA, ON, May 15, 2025 /CNW/ - The six-month trend in housing starts increased 2.4% in April to 240,905 units, according to Canada Mortgage and Housing Corporation (CMHC). The trend measure is a six-month moving average of the seasonally adjusted annual rate (SAAR) of total housing starts for all areas in Canada. The total monthly SAAR of housing starts for all areas in Canada increased 30% in April (278,606 units) compared to March (214,205 units). Actual housing starts were up 17% year-over-year in centres with a population of 10,000 or greater, with 21,720 units recorded in April, compared to 18,539 in April 2024. This marks the highest actual housing starts for the month of April on record, and pushed the year-to-date total to 67,022, down 2% from the same period in 2024. "The increased starts activity in April was driven by increases across all housing types in Québec and the Prairie provinces, while starts in Ontario and British Columbia declined on a year-over-year basis again this month. The current economic uncertainty will have consequences for the supply and demand of new housing. CMHC will be monitoring these effects closely over the coming months," said Kevin Hughes, CMHC's Deputy Chief Economist. Key Facts: The monthly SAAR for Canada's centres with a population of 10,000 or greater increased 28% in April (259,788 units) compared to March (202,668 units). The rural starts monthly SAAR estimate was 18,818 units. Among Canada's big three cities, Montreal posted a 64% year-over-year increase in actual housing starts compared to April 2024, primarily driven by more multi-unit starts. Vancouver recorded a 6% increase in starts this month, also driven by higher multi-unit starts. Conversely, a decrease in multi-unit starts drove the 25% year-over-year decrease in Toronto's housing starts compared to last April. Monthly Housing Starts and Other Construction Data are accessible in English and French on our website and the CMHC Housing Market Information Portal. Housing starts data is available on the eleventh business day each month. We will release the May housing starts data on June 16 at 8:15 AM ET. CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and to obtain a clearer picture of upcoming new housing supply. In some situations, analyzing only SAAR data can be misleading, as the multi-unit segment largely drives the market and can vary significantly from one month to the next. Read about our definitions and methodology to better understand the foundations of the Starts and Completions and Market Absorption surveys. Housing starts facilitate the analysis of monthly, quarterly, and year-over-year activity in the new home market. The data we collect as part of our Starts and Completions and Market Absorption surveys helps us obtain a clearer picture of upcoming new housing supply and is used as part of our various housing reports. CMHC plays a critical role as a national convenor to promote stability and sustainability in Canada's housing finance system. Our mortgage insurance products support access to home ownership and the creation and maintenance of rental supply. We actively support the Government of Canada in delivering on its commitment to make housing more affordable. Our research and data help inform housing policy. By facilitating cooperation between all levels of government, private and non-profit sectors, we contribute to advancing housing affordability, equity, and climate compatibility. Follow us on X (formerly Twitter), YouTube, LinkedIn, Facebook and Instagram. Related Links: Housing starts for March 2025 2025 Housing Market Outlook 2024 Rental Market Report Solving the housing crisis is a marathon not a sprint High housing costs making it harder to move for jobs many are seeking Canada's potential capacity for housing construction SOURCE Canada Mortgage and Housing Corporation (CMHC) View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
