 Housing starts drop as debt, rate worries loom The threat of higher interest rates and record levels of household debt have taken a bite out of Canada’s new home construction sector, with a sharp drop in new housing starts foreshadowing an underwhelming year of growth.Commentsview comments in forum Page 1 You need to be a member of CKA and be logged into the site, to comment on news. |
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Surge in homebuilding activity
CMHC said there were 263 units recorded in the Winnipeg Census Metropolitan Area (CMA) during the month ? more than double the 126 started in December 2009.
The surge in homebuilding activity was evident on both sides of the market, with singles up by 15.3 per cent to 143 units and 120 multi-family starts recorded compared to only two a year earlier.
The strong finish boosted total starts for the year to 3,244 units ? a gain of 60 per cent from 2009?s total of 2,033.
For the seven largest Manitoba urban areas combined ? Winnipeg, Brandon, Portage la Prairie, Thompson, Steinbach, St. Andrews and Hanover -- the year-over-year gain was a slightly more modest 42.2 per cent (3,966 starts compared to 2,789).
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Meanwhile in other provinces....
Surge in homebuilding activity
CMHC said there were 263 units recorded in the Winnipeg Census Metropolitan Area (CMA) during the month ? more than double the 126 started in December 2009.
The surge in homebuilding activity was evident on both sides of the market, with singles up by 15.3 per cent to 143 units and 120 multi-family starts recorded compared to only two a year earlier.
The strong finish boosted total starts for the year to 3,244 units ? a gain of 60 per cent from 2009?s total of 2,033.
For the seven largest Manitoba urban areas combined ? Winnipeg, Brandon, Portage la Prairie, Thompson, Steinbach, St. Andrews and Hanover -- the year-over-year gain was a slightly more modest 42.2 per cent (3,966 starts compared to 2,789).
Was thinking the same thing when I saw the thread header and you beat me too it. No sign of housing starts slowing here. Approval for a new 300 lot subdivision just north of me came out last week. Minimum lot price (likely for small lots) $160,000 (pricey for Winnipeg) with minimum house price $400k,a also pricy here in Winnipeg.
Curtman, help me out here, does it seem housing numbers are growing faster than the city's population is growing? I also don't know how people are affording these places. Winnipeg is not a high income town. People are not getting richer but they sure seem to be buying bigger and more expensive houses.