Strong June for housing starts in Hamilton
The value of building permits went up 13.8 per cent across Canada report says
May was a tough month for housing starts and building permits in Hamilton, but the slow start after a long winter is now a distant memory, according to new numbers out of multiple reports this week.
Statistics Canada reported that Hamilton led the losses in building permits for institutional and multi-family dwellings, despite strong numbers in the rest of the country. The report, released earlier this week, said the value of building permits went up 13.8 per cent across Canada but noted that Hamilton, London and Quebec posted the largest losses.
Those declines did not carry over into June, with housing starts numbers on the rise. The starts jumped to 2,953 units in June, compared to May's 2,738 starts, according to numbers from Canada Mortgage and Housing Corporation (CMHC) released Wednesday.
"The trend in Hamilton CMA (Census Metropolitan Unit) total housing starts increased for the third consecutive month in June 2014," said Abdul Kargbo, a senior market analyst for CMHC. Some builders responded to the demand coming from a tight existing home market. Townhouse starts continued last month's strength. Some home buyers shifted their demand in favour of less expensive townhouses relative to single-detached dwellings."