Ottawa Business Journal - Real Estate - Residential

Article

Print
Send to a friend
Comment (0)

Condos push Ottawa starts 45% higher in October

(Stock image)

Published on November 8, 2011; Published on November 8, 2011
OBJ Staff

Year-to-date numbers still below 2010

A relative explosion in apartment-style housing starts in Ottawa boosted local housing starts more than 45 per cent higher annually in October.

Topics :: Canada Mortgage and Housing , Ottawa

There were 330 condominium starts in October 2011 compared with 25 last year, according to numbers from the Canada Mortgage and Housing Corp.

Overall starts increased to 602, from 414, in the same time period. But year-to-date numbers declined to 4,678, six per cent off the 4,976 starts seen by this time in 2010.

"Condominium apartment construction activity gained momentum in October, confirming CMHC's expectation of an active year-end as some of the larger development projects in the pipeline materialize," stated Sandra Pérez Torres, CMHC's senior market analyst.

Most residential construction was within the core, the CMHC noted, with 197 new condominium apartment units started in that area.

Other active regions included Nepean and Goulbourn, while slower spots included Kanata and Cumberland.

Rate
Top of the page

Submit a comment

Submit a comment Your name* Email* (we keep all emails private) Write your comment here*

Agreement

We ask that users remain courteous. You may not post insulting, discriminatory or inappropriate content, which may be removed at our discretion. We are not responsible for user content and opinions. Use of this site as well as content submission & ownership are governed by our Conditions of Use and Privacy Policy.

Member organizations should be non-profit in nature, and promote legal activities. Any organization found promoting illegal activities or commercial products or services will be deleted from the site.

I agree with these conditions.