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For additional information relating to this article, please contact:

Barbara Ruszel Economist
Tel: 902-424-1848Email: Basia.Ruszel-Lichodzijewska@novascotia.ca

September 11, 2017
CMHC PRELIMINARY HOUSING STARTS, AUG 2017

Nova Scotia's housing starts (seasonally adjusted annualized rate) decreased 15.2 per cent to 3,869 in August compared to July, with the Halifax market down 22.4 per cent, to 2,396. 

Compared to August 2016, Nova Scotia housing starts were up 63.6 per cent while Halifax starts were up 59.9 per cent.

Through the first eight months of 2017, Nova Scotia housing starts were up 29.8 per cent compared to the same period in 2016. That growth was driven largely by increases in multiple-unit starts in the Halifax market.

Across the country, the pace of housing starts increased by 0.6 per cent to 223,232 in August compared to July. Housing starts were 21.5 per cent higher than in August 2016.

Housing starts for January-August 2017 were up in all but two provinces compared to the first eight months of 2016, led by Prince Edward Island, Manitoba, and Nova Scotia in percentage terms. Newfoundland and Labrador and British Columbia had lower housing starts than in January-August 2016.

The six month average of housing starts has remained relatively flat in both Nova Scotia and Halifax in 2017, albeit with some variability month-to-month. This followed a steady increase through most of 2016, starting the year at around 2,500 and rising to around 4,000 by the end of the year. 

Note: Urban areas are defined as areas over 10,000 people

Statistics Canada: CANSIM table 027-0054, CANSIM table 027-0051

CHMC Housing Market Information Portal



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