Local Housing Starts Trending HigherJuly 11, 2018 11:30am
Year to date housing starts in Sarnia are about 13% ahead of last year.
Canada Mortgage and Housing Corporation (CMHC) Senior Market Analyst Andrew Scott says work started on 24 homes last month, compared to 21 in June 2017.
He says total starts to date are at 108, up from 96 in the first six months last year.
“It does look like this is going to trend higher, because we do see very stable economic conditions right now in southwestern Ontario,” says Scott. “We’ve also got a pretty healthy amount of migration coming into southwestern Ontario. So, that’s really increasing the demand for new housing.”
The numbers include Sarnia, St. Clair Township and Point Edward.
Nationally, CMHC says the annual pace of new home building increased in June, boosted by a jump in multi-unit projects.