December 3, 2022

The Queens County Citizen

Complete Canadian News World

Residential Construction | Best year in 30 years in the country

Residential Construction |  Best year in 30 years in the country

According to the latest data from the Canada Mortgage and Housing Corporation (CMHC), 47,232 homes have been built in urban centers of 10,000 or more residents, an increase of 8% from 2019. ), Published Monday morning.

Andre DubakAndre Dubak

Paul Cardinal, director of the Economic Services Director of the Quebec Association of Construction and Housing Professionals Association (APCH), recently stressed that “housing start-ups ended in 2020, with growth of 36% in November and 43% in December. Contrary to all expectations, 2020 is proving to be the best year since at least 1990.” Housing Bulletin.

In the Montreal area, housing total increased by 27,274, 9% in one year. About 60% of home openings, about 16,000 units, are in the rental segment. Ten years ago, this ratio was only 10-15%.

The number of new apartments in the Montreal area is significant, starting with the amount of rental homes in Toronto, Vancouver, Calgary and Ottawa-Gatino, which emphasizes the CMHC. Apartment opening in retirement homes dropped from 2,000 units in 2019 to 1,300 in 2020.

Across Quebec

Condo initially fell 13% to 7,200 units. In fact, no condominiums were built outside of Montreal last year. “Nearly 95% of condo startups in the province are in CMA [région métropolitaine recensement] It has not been heard of in Montreal since the late ’90s or early’ 2000s, ”the federal agency stressed.

The single-family home has had the best year with 11,400 openings in 10 years, up 8% in one year.

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