New construction sites have diminished in number in August in most regions of Quebec

Published on by Association des Propriétaires du Québec

Topic(s): Real estate

New construction sites have diminished in number in August in most regions of Quebec

In centres of 10 000 inhabitants and more, in Quebec, residential construction has diminished in August of 2008 compared to results for the same period of last year. 2 869 new construction sites have been registered during last month, representing a decrease of 11 % compared to the same period in 2007.

These figures have been provided by the Canadian Mortgage and Housing Corporation (CMHC), following its monthly poll.

For the whole of the year, August included, there are 26 413 new construction sites, which is a small increase of 1 % compared to the first eight months of 2007.

« The results of the first eight months correspond fully with the previsions that we have published one year ago. At the time we expected a weaker pace in new construction sites. However, the recent economic and demographic context was not in favour of an important downfall », says Kevin Hughes, regional economist at the CMHC.

Decreasing new construction sites have been recorded in all regions of Quebec, last August, exception being made for the Gatineau and Trois-Rivières regions.

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