National

Drop in housing starts in Vancouver

Darpan News Desk The Canadian Press, 15 Jun, 2023 01:13 PM

Slower housing starts in Vancouver last month were a major contributor to a hefty drop in starts right across the country.

Canada Mortgage and Housing Corporation says housing starts in Vancouver tumbled 45 per cent in May.

The trend in housing starts has been declining steadily since November 2022.

Overall, Canada’s #housing starts saw a 23% month-to-month decline in May. The decrease was driven by declines in multi-unit construction in major markets.

Read more: https://t.co/k5DBbhjlks pic.twitter.com/xWdAerRVph
— CMHC (@CMHC_ca) June 15, 2023

The drop covered all types of projects -- from apartments and condos to other kinds of multi-unit developments -- and the trend was reflected in Montreal, where starts were off 35 per cent, and in Toronto, where starts fell 28 per cent.

Overall, C-M-H-C says housing starts across the country were down 23 per cent when compared with the month earlier.

Prev Next

MORE National ARTICLES

Ottawa to spend $1.5B on drugs for rare diseases

The federal government says it will spend up to $1.5 billion over the next three years to improve access to drugs used to treat rare diseases. Health Minister Jean-Yves Duclos says up to $1.4 billion of that money will be used to help provinces and territories expand coverage of new and existing drugs that treat rare diseases.

Ottawa to spend $1.5B on drugs for rare diseases

Biden visit puts defence spending under microscope

American presidents have a long history of pushing Canada to spend more on its military, including Barack Obama in a speech to Parliament in 2016. Such pressure has come as Canada consistently lags most of its allies in terms of defence spending as a percentage of its national GDP.

Biden visit puts defence spending under microscope

One man killed in West Vancouver homicide

A statement from West Vancouver police says the male victim was involved in an altercation with an unknown man just before 5 p.m. Tuesday. The statement does not confirm how the victim died.

One man killed in West Vancouver homicide

Suspect charged with mischief after more than 20 panes of glass were intentionally shattered at bus shelters: VPD

VPD officers responded to Granville and Georgia Street around 1:30 a.m. following reports that a man with a hammer was walking down the street and smashing glass at bus stops. Sergey Kurmanaev was taken to jail and has been charged with one count of mischief over $5,000.

Suspect charged with mischief after more than 20 panes of glass were intentionally shattered at bus shelters: VPD

Brace for familiar Canada-U.S. trade anxiety

The U.S. remains unhappy with how Canada has allocated the quotas that give American dairy producers access to markets north of the border. Canada and Mexico both took issue with how the U.S. defined foreign auto content. And Canada and the U.S. oppose Mexico favouring state-owned energy providers.

Brace for familiar Canada-U.S. trade anxiety

Park board has tips to 'respect' Vancouver coyotes

Coyotes are found across Vancouver and prefer sheltered, wooded areas to raise their families, so the board says it will occasionally close trails in high-traffic locations like Stanley Park where they are known to frequent.