Rental Market Drives Canadian Housing Starts To Highest Level Since 2022

Canadian housing starts reached their highest level since 2022, driven by rental market demands and supported by population growth and government funding. The July data showed a 4% rise from the previous month, with significant increases in multi-unit starts in Quebec and the Prairie Provinces. However, economists warn that economic uncertainties and declining rents might slow down future housing proposals. Regionally, Montreal and Alberta showed strong growth, while Toronto faced challenges due to high development costs.