Canadian Housing Starts City and Provincial and plotted against population growth since 1956
ANNUAL COUNT of CANADIAN HOUSING STARTS
“December saw multi-unit construction slow for the third consecutive month in Canada, leading housing starts to trend down,” said Bob Dugan, CMHC Chief Economist. “However, 2016 still counted more home starts than 2015. Increased demand for single-detached homes more than offset the decline we’re seeing in multi-unit construction – a decline that’s in response to efforts to manage current inventories.” Full CMHC Report
NOTE: The chart below shows the actual annual totals count from 1956 through 2016.
The 2017 data points on the chart are derived from the "annualized" provincial data set in the charts above and are therefor a projection of what year end 2017 might look like.
Projected Year End 2017 Totals
Canada = 178,176 (-10.0% Y/Y)
QC = 31,266 (-19.7% Y/Y)
ON = 71,771 (-4.2% Y/Y)
AB = 22,050 (-10.1% Y/Y)
BC = 38,789 (-7.3% Y/Y)
We Need More Affordable Housing
"It’s time to make affordable housing an issue..." Art Eggleton
Four million people are struggling to find affordable housing in Canada today. By affordable, I’m using the Canada Mortgage and Housing (CMHC) standard rule of thumb of about 30 percent of income going to housing that is adequate and in suitable condition. In fact, many Canadians are paying much more than this for housing, which leaves little in the household budget for other necessities such as food and clothing. Read Full Report from the Ottawa Citizen, September 20, 2015
Art Eggleton is a Canadian senator and a former mayor of Toronto and member of Parliament.
See also the Annual Demographia Studies on Housing Affordability.
A radical reform of Tax and Property Rights might help. My Post Here.