Winnipeg Free Press - PRINT EDITION

Housing starts slide to kick off a new year

  • Print

The new year got off to a slow start for local homebuilders, with the number of new starts down 19 per cent in January, Canada Mortgage and Housing Corp. (CMHC) said Monday.

The corporation said there were 153 new housing starts recorded last month in the Winnipeg Census Metropolitan Area (CMA), which includes Winnipeg and 10 neighbouring municipalities.

That was a decline of 19 per cent from the 189 starts recorded in January of last year.

"The trend in total housing starts moderated for a second consecutive month in January as both single-detached and multi-family construction declined," said Dianne Himbeault, CMHC's senior market analyst for Winnipeg. "The decrease was more pronounced in the multi-family sector, where starts continued to ease from the elevated levels set in 2013."

CMHC said the number of multi-family starts fell by 22 per cent to 64 units from 82 in January of last year. Single starts were off by 16.8 per cent to 89 from 107.

CMHC has said it expects to see a slowdown in new-home construction activity this year in both Manitoba and the Winnipeg CMA.

In its first-quarter forecast released late last week, the corporation said the number of housing starts in Manitoba's major urban areas is expected to decline by 8.9 per cent to 6,800 units from 7,465 in 2013. For the Winnipeg CMA, it's forecasting a six per cent decline -- 4,425 units versus 4,705.

It predicted a combination of fewer immigrant arrivals, more moderate employment and income growth and a growing inventory of unsold homes will prompt local builders to scale back their construction activity this year.

The pace of housing starts also slowed at the national level in January compared with December, CMHC said Monday. It estimated there were 11,737 actual starts during the month and that is extrapolated out to a seasonally adjusted annual rate of 180,248. That's down from 187,144 in December.

 

-- Staff/Canadian Press

Republished from the Winnipeg Free Press print edition February 11, 2014 B6

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Police: Three or four infants' bodies found in storage locker

View more like this

Photo Store Gallery

  • A monarch butterfly looks for nectar in Mexican sunflowers at Winnipeg's Assiniboine Park Monday afternoon-Monarch butterflys start their annual migration usually in late August with the first sign of frost- Standup photo– August 22, 2011   (JOE BRYKSA / WINNIPEG FREE PRESS)
  • A red squirrel peaks out of the shade in a tree in East Fort Garry, Sunday, September 9, 2012. (TREVOR HAGAN/WINNIPEG FREE PRESS)

View More Gallery Photos

Poll

Will you get out and vote for a new mayor and council?

View Results

View Related Story

Ads by Google