• Feature Articles
  • Digital Issues
  • News
  • Events
  • Products
  • Subscribe
  • Advertise
Facebook Twitter Instagram
Trending
  • AHR Expo highlights VRF/heat pump technology
  • MCEE returns to Montreal
  • New and improved
  • Self-learning tankless water heater
  • Median income for journeypersons declined in 2020
  • CIPH launches new leadership academy program
  • National plumbing codes take effect in Alta on April 1
  • Electric tankless units
Facebook Twitter Instagram LinkedIn YouTube
Plumbing & HVAC
  • Feature Articles
  • Digital Issues
  • News
  • Events
  • Products
  • Subscribe
  • Advertise
Plumbing & HVAC
You are at:Home»News»Canadian housing starts jump for a second month

Canadian housing starts jump for a second month

0
By Plumbing & HVAC Staff on August 12, 2020 News

Ottawa, ON — Following declines in previous months from COVID-19 measures, housing starts in Canada rose in July, according to the Canada Mortgage and Housing Corporation (CMHC). This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

The standalone monthly SAAR of housing starts for all areas in Canada was 245,604 units in July, an increase of 15.8% from 212,095 units in June, the highest level since November 2017.

The SAAR of urban starts increased by 17.4 per cent in July to 231,995 units. Multiple urban starts increased by 18.8 per cent to 184,431 units in July while single-detached urban starts increased by 12.3 per cent to 47,564 units.

Rural starts were estimated at a seasonally adjusted annual rate of 13,609 units.

According to CMHC’s chief economist, higher activity in June and July leaves the trend in housing starts in line with the long-run average level of housing starts. “Higher multi-family starts in major urban areas, including Toronto, Vancouver and oil-producing centres in the Prairies drove the national increase,” said Bob Dugan. “We expect national starts to trend lower in the near term as a result of the negative impact of COVID-19 on economic and housing indicators.”

In Toronto, housing starts jumped 22 per cent to 48,466 units on an annualized seasonally adjusted basis. New construction also climbed in more affordable areas outside of Toronto, such as Hamilton and the St. Catharines-Niagara area.

In Calgary, Edmonton and Saskatoon, cities that have suffered from two oil price crashes in a decade, new construction jumped from June to July, but remained below pre-pandemic levels. In Atlantic Canada, housing starts more than doubled in Halifax, Saint John and Moncton.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleHRAI announces dates for 2020 AGM
Next Article CRA launches updated Canada Emergency Wage Subsidy calculator

Related Posts

AHR Expo highlights VRF/heat pump technology

MCEE returns to Montreal

Median income for journeypersons declined in 2020

Comments are closed.

TWITTER
Tweets by Plumbing_HVAC_
RSS Plumbing & HVAC
  • AHR Expo highlights VRF/heat pump technology
  • MCEE returns to Montreal
  • New and improved
  • Self-learning tankless water heater
  • Median income for journeypersons declined in 2020
  • CIPH launches new leadership academy program
  • National plumbing codes take effect in Alta on April 1
  • Electric tankless units
  • TSSA issues warning of trunk slammers
  • Advanced recirculation technology
About
About

Plumbing & HVAC

Canada's largest and most qualified circulation to the mechanical trades.

Subscribe Now!

Recent Posts
March 31, 2023

AHR Expo highlights VRF/heat pump technology

March 30, 2023

MCEE returns to Montreal

March 28, 2023

Median income for journeypersons declined in 2020

Pages
  • Advertise
  • eNewsletter
  • Feature Articles
  • Get in Touch
  • News
  • Products
  • Subscribe
Copyright © 2021 Plumbing & HVAC all rights reserved | Designed and Developed by Upnorthwebs

Type above and press Enter to search. Press Esc to cancel.