October housing starts fall to 207K units, down from 230K in September
11/8/2005 7:35:00 AM
OTTAWA (CP) - About 206,700 homes began construction in October, down from 229,600 in September, the Canada Mortgage and Housing Corp. said Tuesday.
But despite dwindling, the levels nonetheless remain robust, the corporation said.
"Although residential construction activity declined in October, housing starts across Canada have now been above the 200,000 level for 29 consecutive months," said chief economist Bob Dugan. "Low mortgage rates and full-time job creation continue to be a boon for new home construction."
Urban housing starts were down across all regions except for the Atlantic in October.
Housing starts were down 16.9 per cent in Ontario, 15.4 per cent in the Prairies, 12.3 per cent in Quebec, and 1.1 per cent in British Columbia.
In the Atlantic region, the seasonally adjusted annual rate of urban starts rose 16.7 per cent to 9,800 units.
Rural starts in October were estimated at 29,600 units.
|
