A comparison of different regions across Canada shows varying trends in new housing construction.
Canada as a whole, along with Ontario, BC, and Quebec, had a decrease in overall housing starts in Q1 2024 compared to Q1 2023. On the other hand, Alberta exhibited a significant increase in housing starts in Q1 2024 compared to Q1 2023, diverging from the national and Ontario trends.
For semi-detached dwellings, however, Canada experienced an overall increase in starts in Q1 2024 compared to Q1 2023. Similarly, Alberta saw a remarkable increase in starts for semi-detached dwellings during this period. Ontario and BC did not follow this trend and saw slight decreases.
Canada witnessed a decrease in row housing starts in Q1 2024 compared to Q1 2023. Quebec, however, demonstrated a slight increase in row dwelling starts in Q1 2024, and Alberta showed a significant increase in row dwelling starts in Q1 2024.
For apartment dwellings, Canada showed a substantial increase in starts in Q1 2024 compared to Q1 2023, suggesting a potential move towards more multi-unit residential development to address housing needs.This was the one housing type which experienced an increase in starts in all of the regions compared.
Overall Seasonally Adjusted Total Housing Starts (All Areas)
Seasonally adjusted annual rates (SAAR) are the monthly numbers adjusted to remove normal seasonal variation, then multiplied by 12 to reflect annual levels. The trend figures are six-month moving averages of SAAR rates.