Thursday, October 02, 2008

Ottawa Home Construction Slows

A 14% drop in Ottawa's housing starts in August was the first significant decline in recent months.

Housing starts fell to 639 last month compared to 743 units in August 2007
However, year-to-date figures show growth in starts has moderated to a "still solid" 14.3% above 2007.

Townhomes continue to drive Ottawa's new home market, up 22.5% over August 2007 and up 28.2% for the year. Single-detached properties - which fell slightly in August by 2.4 % compared to August 2007 - still represented 45% of total starts in Ottawa.

Housing starts in the Gatineau area were up by 21%, to 363 from 299, from the same month a year ago.


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