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

BC port strike vote

Both the union and the Maritime Employers Association -- which represents 49 private-sector employers at more than 30 B-C ports -- have agreed that June 24th is the earliest any job action could occur.

BC port strike vote

Eyes on the weather as fierce wildfire rages, forces evacuations in northeastern B.C.

The extreme fire activity prompted the District of Tumbler Ridge to skip an evacuation alert Thursday and jump right to an order requiring all 2,400 residents to get out immediately and seek refuge in Dawson Creek or Fort St. John.

Eyes on the weather as fierce wildfire rages, forces evacuations in northeastern B.C.

'These are the rules': Canada to deport Sikh family to India

Hardeep Singh Chahal, his pregnant wife Kamaldeep Kaur and their three-year-old daughter, who live in Penticton, were given deportation orders last month for reasons withheld for privacy reasons, the Houston Today newspaper reported.

'These are the rules': Canada to deport Sikh family to India

Canada invites 4,800 candidates for Express Entry draw in June

The 14th draw of the country's flagship economic immigration management system on Thursday follows the most recent draw on May 24 in which 4,800 candidates with a minimum CRS score of 488 were invited.

Canada invites 4,800 candidates for Express Entry draw in June

Jobless at 5.2 per cent: Statistics Canada

The jobless rate rose to 5.2 per cent in May, ending a streak of eight months of job gains. T-D director of economics James Orlando says the question now is whether this is a one-off, or the start of a trend.

Jobless at 5.2 per cent: Statistics Canada

Bus carrying students catches fire in Chilliwack

The City of Chilliwack says no injuries were reported and crews contained the blaze about 95 kilometres east of Vancouver. B-C Hydro says power went out for nearly 25-hundred customers as a result of the fire.