The residential construction market in Quebec is experiencing its worst start to the year in four years, notes the Association of Construction and Housing Professionals of Quebec (APCHQ).
In January 2023, only 2,045 homes were started in Quebec, or 45% less than a year ago. The decline is even more pronounced for collective housing, with 1,830 housing starts, a decrease of 46% over one year.
Geographically, all urbanized regions in Quebec experienced sharp declines in housing starts in January 2023, with the notable exception of the Trois-Rivières region.
“Residential construction drops sharply for a second straight month, as January’s result follows a 44% decline in December. It is the rental segment that suffers the most. With a vacancy rate of only 1.7% province-wide, this is nothing to help us get out of the housing crisis,” points out Paul Cardinal, director of the APCHQ’s Economic Department.