Posts Tagged ‘toronto condominiums’

New Development Of Condominiums In Canada Is Good For Values

The international economic crisis has impacted the market in condominium construction more strongly than any other part of the real estate market in Canada. While there have been an increasing number of house starts in rural regions, and a strong, continuous increase in the construction of single family homes, there has been a marked reduction in the number of starts of condominiums and apartments in cities all over Canada like  downtown Toronto condos. 

This decline in construction of multiple occupancy buildings has negatively affected the overall average for house starts in March, translating in a decline of 1.5% in all kinds of house starts, across the country. This was the first reduction in house starts in 2010. There was a growth of 7.5 percent during January and 6 percent over February. March saw 197,300 house starts, compared with January’s 189,000 and February’s 200,400. 

It is in urban areas that the decline in house starts has been most severe. Starts have increased in a few rural areas of Canada, despite the overall drop in housing starts across the nation as a whole. There was a slide of 4.2 percent in urban starts in March, while rural starts climbed from February’s 17,600 to a total of 22,100 in March. This reflects the adjustment in starts of multiple family dwellings, which are usually built within a city or on its outskirts. Single family homes are the preference in rural regions.  Read more…