Housing starts in the Oshawa Census Metropolitan Area were higher last month than the month before, according to new numbers from the Canada Mortgage and Housing Corporation (CMHC).
August saw 2,266 housing starts in the area, compared to 2,117 the month before.
“Over the past five months housing starts in the Oshawa CMA have been robust and trending above their historical 10-year annual average,” states Dana Senagama, CMHC’s principal of market analysis for the GTA, in a news release. “New home construction has picked up in response to rising demand for relatively affordable homes in the Oshawa area.”
The growth in housing starts in Oshawa goes along with a provincial trend, with CMHC reporting 67,113 housing starts in August throughout Ontario, up from July’s 58,700.
“The Ontario residential construction trend in August reached its highest level since 2012. A broad based increase was registered for a second consecutive month as both low density and high density starts registered gains,” states said Ted Tsiakopoulos, CMHC’s Ontario regional economist, in a news release. “While the pace of construction should ease in the coming months from elevated August levels, an improving job market, less choice in the resale market and strong rental demand will continue to support starts activity across the province.”