Winnipeg Free Press - PRINT EDITION

New-home starts saw Oct. slowdown

  • Print

Local homebuilders eased up on the gas last month as they begin to put the finishing touches on what has been a banner year for new-home construction in Manitoba.

Canada Mortgage and Housing Corporation said Thursday local builders started 306 new housing units in the Winnipeg Census Metropolitan Area (CMA), which includes Winnipeg and 10 surrounding municipalities. That was a 36.1 per cent decline from the 479 starts recorded in October 2011.

But the slowdown was concentrated almost entirely in the often-volatile multi-family side of the market, where starts plummeted by 56.5 per cent to 131 units from 301 a year earlier. Single-family starts, by comparison, were down by only three units, to 175 units from 178.

Dianne Himbeault, CMHC's senior market analyst for Manitoba, said the pace of multi-family starts can fluctuate from one month to the next, depending on the number of units in projects that are started during the month.

"Despite the moderation in October, the trend for new-home construction in Winnipeg remains elevated," she said. "Housing starts in 2012 have been supported by continued employment and population growth."

In its latest quarterly forecast released earlier this week, CMHC said Manitoba's homebuilding industry is on pace to finish the year with 7,500 single and multi-family starts. That would be a 23.3 per cent increase from 2011's total of 6,083, and 2011 was one of the industry's best since the late 1980s for new-home construction activity both provincially and in the Winnipeg CMA.

The corporation also said the Winnipeg CMA is on track for 4,050 starts this year, which would be a 21.6 per cent improvement over 2011's total of 3,331. After the first 10 months, starts were running 29.7 per cent ahead of last year's pace after the same period -- 3,569 units versus 2,751.

Canada also saw the pace of housing starts slow in October. CMHC said there were 17,507 actual starts recorded in the country, which translates into a seasonally adjusted annual rate of 204,107 starts. That's down from an annual rate of 223,995 in September.

murray.mcneill@freepress.mb.ca

Republished from the Winnipeg Free Press print edition November 9, 2012 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

Sanders gives other candidates a reality check

View more like this

Photo Store Gallery

  • July 1, 2012 - 120701  -   Canada Day fireworks at The Forks from the Norwood Bridge Sunday, July 1, 2012.    John Woods / Winnipeg Free Press
  • PHIL.HOSSACK@FREEPRESS.MB.CA 101130-Winnipeg Free Press Columns of light reach skyward to the stars above Sanford Mb Tuesday night. The effect is produced by streetlights refracting through ice crystals suspended in the air on humid winter nights. Stand Up.....

View More Gallery Photos

Poll

Do you think the Jets' three pre-season losses in a row are a sign of things to come?

View Results

View Related Story

Ads by Google