Regina housing starts continue to climb in May

Housing starts in the Regina area increased for the sixth consecutive month to  146 units in May from 115 units in May 2011, according to Canada Mortgage and Housing  Corporation’s (CMHC) monthly survey of residential construction.

Single-detached housing starts in Regina totalled 117 units in May, a  30-per-cent increase over the previous year. To the end of May, single-detached  starts totalled 486 units.

Multi-family starts, which consist of semi-detached units, rows, and  apartments, also reported a gain in May, as the 29 starts were 16 per cent  higher than those reported in May 2011. With May’s gain, year-to-date  multi-family starts in Regina totalled 758 units.

Regina still holds a slight lead over Saskatoon in total year to date starts  at 1,244 versus 1,101 in the Bridge City; the big difference is that the Queen  City saw starts more than double from 587 last year, while Saskatoon posted a  2.2-per-cent decline from 1,126 for the same period last year.

Nationally, the pace of home construction cooled in May after a strong  showing in April. CMHC said the May figure of 19,264 estimated actual starts was  more in line with the pace of the previous six months.

On a seasonally adjusted annual basis, May starts hit 211,400 compared with  243,800 in April. The adjusted figure smooths out seasonal fluctuations and  calculates an annual figure as if the monthly number held steady for a year.

The seasonally adjusted annual rate of urban starts slipped by 15.8 per cent  to 189,600 units in May, with urban single starts down 4.2 per cent and multiple  starts off 20.7 per cent.

On the same basis, urban starts decreased by 35.8 per cent in Quebec, by 18.3  per cent in Ontario and by 7.7 per cent in the Prairies.

Urban starts were up 6.4 per cent in Atlantic Canada and 20.9 per cent in  British Columbia.

Click HERE to read the full Leader Post article.


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