Ottawa becoming a rental city, CMHC report suggests

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Rental housing dominated construction in Ottawa last year, according to a new report from the Canada Mortgage and Housing Corporation (CMHC).

Construction workers are seen at the site of an affordable housing project in the Thornecliffe Park region of Ottawa, on Thursday, Sept. 28, 2023. Rental housing dominated construction in Ottawa last year, according to a new report from the Canada Mortgage and Housing Corporation .

There was a modest increase in rental housing starts in 2023 over the record-high seen the year prior and a jump in new condominiums. The report shows 5,846 new apartments were built in Ottawa last year, up 2.1 per cent compared to 2022."As of the end of 2023, there were only 13 completed and unsold condominium units, highlighting continued demand for new units," the CMHC said.

Single-detached housing starts were down 45 per cent compared to 2022. Row house starts dropped by 38 per cent compared to 2022, marking a third year of declines in a row. "Increased construction costs resulting from higher financing rates and inflation that occurred in 2022 and 2023 contributed to the decline in construction in the region," the CMHC said. Ottawa approves spending plan for $176.

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