A report from the Canada Mortgage and Housing Corp Monday showed the seasonally adjusted annualized rate of Canadian housing starts rose to 195,620 units in November, from 183,659 in October.
Canada Housing Starts
Multiple-unit housing starts starts in urban areas rose 13.6 per cent, to 112,583, reversing most of the prior month’s decline. Single-family starts fell 2.9 per cent to 63,760 units.
A separate report from Statistics Canada Monday showed the value of Canadian building permits edged up 0.7 per cent in October to $7.53 billion, cooling after the previous month’s sharp gain as construction intentions for residential homes slipped.
Residential permits fell 0.4 per cent to $4.46 billion as single-family homes were unchanged at $2.42 billion and multiple-unit projects such as apartments and condominiums fell 0.9 per cent to $2.04 billion.
Industrial projects such as buildings for utilities and manufacturers jumped 34.4 per cent to $614 million, leading a 2.4 per cent rise in permits for non-residential construction to $3.07 billion.