Housing Starts in Guelph Are On The Rise
Housing starts in Guelph are on the rise, even in the face of decreasing national trends.
The most recent statistics released by the Canada Mortgage and Housing Corporation show the general trend in Guelph housing starts is up at 1,130 units in November from 1,075 units in October.
The total monthly seasonally adjusted annual rates for the same time frame were 1,127 units in November and 641 units in October, according to the report.
However, the national trend in housing starts decreased to 194,014 units in November from 195,274 units in October, the CMHC reported.
Anthony Passarelli, CMHC’s market analyst for Guelph, said in a news release that housing starts are showing momentum due to apartment construction. In the past year there have been new apartment starts in 10 of the 12 months, higher than the average. This is close to the highest total in annual apartment starts Guelph has seen in the past 10 years.