Multi-family starts recorded in January fall over 40 per cent: CMHC
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Monthly Digital Subscription
$0 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*No charge for 4 weeks then price increases to the regular rate of $19.00 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
Monthly Digital Subscription
$4.75/week*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $19 plus GST every four weeks. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
*Your next subscription payment will increase by $1.00 and you will be charged $16.99 plus GST for four weeks. After four weeks, your payment will increase to $23.99 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 08/02/2016 (3565 days ago), so information in it may no longer be current.
The new year got off to a slower start for the local new-homes market as builders cut back on the number of multi-family starts.
Canada Mortgage and Housing Corp. (CMHC) said there were 284 new single- and multi-family starts recorded last month in the Winnipeg Census Metropolitan Area (CMA), which includes Winnipeg and 10 neighbouring municipalities.
That was a 32.4-per-cent drop from the 420 starts recorded in January of last year, with virtually all of the decline on the multi-family side of the market. Starts there fell by 43.5 per cent to 173 units from 306 a year earlier.
There was very little change on the single-family-homes side, where there were only three fewer starts — 111 versus 114.
On a trending basis, overall starts were trending at 4,496 units in January compared to 5,072 in December, CMHC said.
The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR) of total housing starts. It’s used to smooth out the volatility created when construction begins on new multi-family projects, which would otherwise skew the monthly numbers.
“Lower row and apartment starts caused the trend in total housing starts to decline for January 2016,” noted Lai Sing Louie, CMHC’s regional economist for the Prairie region. “More than half of the housing starts in January 2016 were rental apartment units.”