The Canada Mortgage and Housing Corporation (CMHC) has reported a positive trend in housing starts for the Gatineau region and across Canada in September 2023. According to CMHC data, the trend in housing starts in September stood at 254,006 units nationally, reflecting a 3.9% increase from 244,511 units in August. The trend measure is a six-month moving average of the monthly Seasonally Adjusted Annual Rate (SAAR) of total housing starts for all areas in Canada.

On a national level, the monthly SAAR of total housing starts for all areas in Canada increased by 8% in September, reaching 270,466 units, compared to 250,383 units in August. In the Gatineau region, specifically, the data indicates a noteworthy increase in housing starts. The monthly SAAR of total urban housing starts in areas with a population of 10,000 and over increased by 9% in September, with 250,766 units recorded. Of this, multi-unit urban starts increased by 10%, totalling 207,689 units, while single-detached urban starts saw a 3% increase to 43,077 units in September.

Bob Dugan, Chief Economist at CMHC, highlighted the trend in housing starts and the persistent activity in multi-unit starts. He stated, “Both the SAAR and trend in housing starts were higher in September. Multi-unit starts activity has persisted and maintained similar levels to 2022 despite the higher interest rate environment. This has helped offset double-digit declines in single-detached starts in all provinces. In fact, September was the second-highest month this year for multi-unit starts. It seems the current higher interest rate environment has so far not had the expected negative impact on multi-unit construction activity in 2023.”

With notes from Mary Baskin, Marie-Eve Turpin and Lily Ryan