There was a clear increase in housing starts in the Sherbrooke metropolitan area in October, according to the Canada Mortgage and Housing Corporation (CMHC).
We are talking about 340 construction starts in all types of construction compared to 120 in October 2023.
This brings the total to 1,158 construction starts in 2024 in Greater Sherbrooke, among others, thanks to 320 new housing units last month.
Across Canada, the monthly number increased by 8% compared to September in all regions of Canada, but the six-month trend shows stability in housing starts.
Housing crisis
According to David Goulet, director of the economic department of the APCHQ, this increase does not help to alleviate the current housing crisis.
He notes that difficulties persist, particularly those related to obtaining construction permits and municipal infrastructure.
Guest on the airwaves of 107.7 Estrie, Mr. Goulet also mentioned the interest in modular or prefabricated construction as a potential solution to the housing crisis.
Listen to the interview given to host Jean-Sébastien Hamal.
Also listen: Real estate boom in East Angus
What factors are contributing to the increase in housing starts in the Sherbrooke metropolitan area?
Host: Good evening, ladies and gentlemen. Today on World Today News, we have two special guests joining us to discuss the recent increase in housing starts in the Sherbrooke metropolitan area. With us in the studio is David Goulet, director of the economic department at APCHQ, and Igor Brault, a prominent real estate developer in Sherbrooke. David, Igor, welcome to the show.
David: Thank you for having me.
Igor: It’s a pleasure to be here.
Host: Let’s start with the basics. According to the Canada Mortgage and Housing Corporation (CMHC), there was a clear increase in housing starts in the Sherbrooke metropolitan area in October. Can you both provide some context for our audience?
David: Of course, Jean-Sébastien. As per the CMHC report, there were 340 construction starts in all types of construction compared to just 120 in October 2023. This brings the total to 1,158 construction starts in 2024 in Greater Sherbrooke, including 320 new housing units last month alone. This is definitely a positive trend in the region’s housing market.
Igor: Absolutely. This is great news for the city and shows that there’s a definite demand for housing in the area. It’s encouraging to see that developers are taking note and starting more projects.
Host: Interesting. Now, while there has been an increase in housing starts, David, you mentioned that this doesn’t necessarily alleviate the current housing crisis. Can you explain why?
David: Well, Jean-Sébastien, despite this increase, we’re still facing challenges such as obtaining construction permits and limited municipal infrastructure. It’s important to note that housing starts have only risen slightly, and it will take time to make a significant impact on the current housing crisis. Additionally, the availability of affordable housing remains a concern for many residents.
Host: And how does this compare to the national picture, Igor? Are you seeing similar trends across Canada?
Igor: Canada is experiencing an 8% increase in monthly housing starts compared to September across all regions of Canada. However, the six-month trend shows stability
