Housing starts down slightly in Hamilton
Housing starts in the Hamilton area dipped slightly in September, trending at about 400 fewer units than the month of August.
The trend, monitored by the Canada Mortgage and Housing Corporation, is a six-month moving average. There were 2,451 units in September compared to 2,827 in August.
The decrease “was entirely due to weaker construction of multiple-family housing,” such as apartments and semi-detached homes, in Hamilton, said Abdul Kargbo, the corporation’s senior market analysis for the Hamilton and Brantford census metropolitan areas.
“Meanwhile, total starts in the City of Burlington and the Town of Grimsby were up due to a higher level of townhouses.”
September data from the Realtors Association of Hamilton-Burlington (RAHB) showed a near record of homes sold in September.
There were 1,207 homes sold in September, just one short of a record set four years ago in September 2009.
House prices in Hamilton are still on the rise, RAHB data shows.
The average home price in September was $392,013, an increase of seven per cent from the year before.