12-08-2014, 04:08 PM
(This post was last modified: 12-08-2014, 04:09 PM by panamaniac.)
Apartment surge fuels housing start increase
Waterloo Region Record
By Record staff
WATERLOO REGION — Housing starts in Waterloo Region increased almost four-fold in November due to a surge of apartment construction.
Foundations were poured for buildings containing 753 housing units, up from 191 in November 2013, the Canada Mortgage and Housing Corp. said Monday.
Last month's total includes 84 single-detached homes, up from 52 a year earlier.
Buildings containing 646 apartment units were started last month. That compares to 106 apartment units in November 2013. Of the apartment total, 624 are in buildings in Waterloo.
Housing starts in the first 11 months of the year totaled 4,067, up from 1,750 in the same period a year ago. The surge in apartment construction accounts for most of the increase.
"Strong demand from students, as well as immigrants, young households and seniors has supported apartment construction this year," Erica McLerie, the housing corporations senior market analyst for this area, said in a news release.
"With starts in 2013 below demographic demand, housing starts in 2014 have surged to meet pent-up demand,
The corporation said housing starts in the Kitchener-Waterloo-Cambridge census metropolitan area are trending at a seasonally adjusted annual rate of 5,153 units, up from 3,806 in October. ....
http://www.therecord.com/news-story/5186...-increase/
Waterloo Region Record
By Record staff
WATERLOO REGION — Housing starts in Waterloo Region increased almost four-fold in November due to a surge of apartment construction.
Foundations were poured for buildings containing 753 housing units, up from 191 in November 2013, the Canada Mortgage and Housing Corp. said Monday.
Last month's total includes 84 single-detached homes, up from 52 a year earlier.
Buildings containing 646 apartment units were started last month. That compares to 106 apartment units in November 2013. Of the apartment total, 624 are in buildings in Waterloo.
Housing starts in the first 11 months of the year totaled 4,067, up from 1,750 in the same period a year ago. The surge in apartment construction accounts for most of the increase.
"Strong demand from students, as well as immigrants, young households and seniors has supported apartment construction this year," Erica McLerie, the housing corporations senior market analyst for this area, said in a news release.
"With starts in 2013 below demographic demand, housing starts in 2014 have surged to meet pent-up demand,
The corporation said housing starts in the Kitchener-Waterloo-Cambridge census metropolitan area are trending at a seasonally adjusted annual rate of 5,153 units, up from 3,806 in October. ....
http://www.therecord.com/news-story/5186...-increase/