Toronto real estate. NEW HOMES CONSTRUCTION IS UP

The strong Western economy helped drive investment in residential construction up 7.6 per cent in the third quarter from the same period a year ago. Statistics Canada reports the growth, to $21.7 billion, was due to increases in all three components of residential construction investment — new housing, renovations and acquisition costs. Residential construction investment has reached $59.3 billion through three quarters of 2006, up 8.6 per cent from the total for the first nine months of 2005.

The agency attributed the numbers to Western Canada's strong economy, vitality of full-time employment numbers, relatively good mortgage rates and high international immigration.Sharp increases in new home prices in several centres also contributed to the increase in spending on residential construction.

To see all Toronto new homes listings for sale, go to http://www.torontogreathomes.com

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Toronto real estate. NEW HOMES CONSTRUCTION IS UP

Reviewed by citra
Published : 2006-12-01T11:49:00-08:00
Rating : 4.5