Canada Housing Starts Increase on Multiple-Unit Projects

October 08, 2014 — Greg Quinn – Bloomberg
Canadian housing starts rose 0.5 percent last month led by multiple-unit work, government figures showed. Work started on 197,343 units at a seasonally adjusted annual pace in September, Ottawa-based Canada Mortgage & Housing Corp. said today, close to the 198,000 median forecast in a Bloomberg economist survey with 18 responses. Multiple-unit projects such as condominiums and apartments rose 2.4 percent to 114,579 units. Single-family homes declined 2.9 percent to 62,440 units. Canada may need tougher rules to slow gains in the housing market, the International Monetary Fund said yesterday. Much of the attention has focused on high prices and robust construction of condos in Vancouver and Toronto. Read the full story...
Reprinted courtesy of Greg Quinn, Bloomberg
Mr. Quinn may be contacted at gquinn1@bloomberg.net