New housing starts up in Calgary
Posted Jul 11, 2011 2:54 pm.
This article is more than 5 years old.
New housing starts are on the rise again in Calgary.
According to the Canada Mortgage and Housing Corporation, 719 total units were started in the Calgary area last month. That’s up from 685 units in the same month a year ago.
CMHC Senior Marketing Analyst Richard Cho tells 660News, things are looking up for Calgary.
“The outlook for the housing market in Calgary is positive,” says Cho. “There are a number of factors and benefits that are happening in our economy, such as improved employment growth” (and) “improvements in migration that will eventually translate into the demand for more housing.”
Cho says the biggest jump in new starts came in the multi-family sector, including condos and apartments.
“Demand for semi-detached and row units have been steady,” adds Cho, “as these dwelling types are generally more affordable than a single detached home and usually offer more space than an apartment.”
It is the first year-over-year increase in new housing starts in Calgary since January. But year to date numbers continue to lag with about a thousand less units started so far this year, compared to the same time last year.
