The latest figures from the Canada Mortgage and Housing Corporation show an uptick in the pace of housing starts.

There were 17,343 starts in September making a seasonally adjusted annual figure of 197,343. This exceeded the expectations of economists.

“The increase in the trend reflects stronger starts activity since April, largely concentrated in multi-unit dwellings including condominiums,” said Bob Dugan, CMHC’s Chief Economist, “however, the currently elevated level of condominium units under construction supports our view that condominium starts should trend lower over the coming months.”

In September, the seasonally adjusted annual rate of urban starts decreased in British Columbia and Atlantic Canada, and increased in Quebec, Ontario and the Prairies.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate


More market watch: