Hey there, time traveller!
This article was published 8/5/2013 (1384 days ago), so information in it may no longer be current.
Winnipeg-area homebuilders are on a roll.
There was another huge increase last month in new-home construction activity in the Winnipeg Census Metropolitan Area (CMA), which includes Winnipeg and 10 neighbouring municipalities.
Canada Mortgage and Housing Corporation (CMHC) said today that 555 new single- and multi-family units were started in the CMA during the month. That’s more than double the 256 units that were started in April of last year, and came on the heels of a 94 per cent increase in March.
"After moving higher in March, the trend in total housing starts continued to increase in April based on strength in both the single-detached and multi-family sectors," said Dianne Himbeault, CMHC’s Senior Market Analyst for Winnipeg. "Builders continue to respond to the demands of a growing population supported by net migration."
The biggest spike in activity was in the multi-family sector, which includes things like rental apartments, condominiums, and row units. Starts there soared by 221 per cent to 283 units from 88 a year earlier.
But builders of single-family homes were no slouches, either. CMHC said those starts jumped by 61.9 per cent to 272 units from 168.
The recent surge in construction activity left housing starts in the CMA running 43.6 per cent ahead of last year’s pace after the first four months of the year — 1,446 units versus 1,007, the CMHC figures show.