Condo construction starts hit new record in Toronto

The red-hot condominium market drove an increase in new home construction in Canada last month as starts of single detached houses continued to fall, new data shows.

Housing starts rose to 229,737 in February, a 7 per cent increase compared to the previous month, according to seasonally adjusted annual rates from the Canada Mortgage and Housing Corporation. Construction of condominiums and other dwellings containing multiple units jumped by 14 per cent nationwide, compared to a 7 per cent decline in single-detached houses.

Read more at Financial Post

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