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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

November 08, 2017
CMHC PRELIMINARY HOUSING STARTS, OCTOBER 2017

Nova Scotia's housing starts (seasonally adjusted annualized rate) decreased 44.2 per cent to 3,018 in October compared to September, the Halifax market down 57.4 per cent at 1,717. 

Compared to October 2016, Nova Scotia housing starts were down 30.6 per cent while Halifax starts were down 39.4 per cent.

Through the first ten months of 2017, Nova Scotia housing starts were up 16.2 per cent compared to the same period in 2016. That growth was seen in single detached as well as multiples (except row units) starts in the Halifax market.

Across the country, the pace of housing starts increased by 1.6 per cent to 222,771 in October compared to September. Housing starts were 13.8 per cent higher than in October 2016.

Housing starts for January-October 2017 were up in all but Newfoundland and Labrador compared to the first ten months of 2016, led by Prince Edward Island, Manitoba, and Alberta in percentage terms. 

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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