Developers appear to be working overtime to play catch-up amid surging demand for inventory in the capital’s red-hot housing market.
Local builders started work on 588 new units on the Quebec side of the river last month, accounting for the lion’s share of the year-over-year growth across the region.
Developers in the National Capital Region broke ground on 1,196 new dwelling units last month, up from 634 in March 2020, agency says.
Builders started work on just 754 new units last month, down from 1,178 in February 2020, the housing agency reported Monday.
Ottawa homebuilders started work on 450 new dwellings in January, up from 371 starts in the same month in 2020, the federal agency reported this week.
Developers launched 1,074 new builds last month, according to the Canada Mortgage and Housing Corp., up from 854 starts recorded a year earlier.
Ottawa-Gatineau developers started work on 1,496 new builds in November, according to the federal agency, up from the 1,240 starts recorded in November 2019.
Builders in Ottawa began work on 1,619 new homes last month, a whopping 167 per cent increase over a year earlier, while new starts in Gatineau also rose.
Continuing a recent trend, most of the year-over-year increase was driven by construction on the Ottawa side of the river, where overall starts jumped 24 per cent to 740.
Single-detached starts last month matched June 2019's tally, while the number of multi-unit builds inched up from a year ago.