BuzzBuzzHome:At the end of Q2-2014, there were 213,683 homes being built across Canada’s 10 busiest new residential construction markets.
Naturally, the activity was centred in a few major urban areas, with Toronto standing out as the most active market by far. There is nearly the same number of homes currently under construction in the Toronto metropolitan area as the metro areas of Vancouver, Montreal and Calgary combined.
With 81,061 total homes under construction in the metro area — 47,750 of those located in the City of Toronto — Canada’s largest city easily tops BuzzBuzzHome’s first quarterly report on Canada’s Top Ten Residential Construction Markets.
The report is based on BuzzBuzzHome’s new construction data collected at the end of the second quarter of 2014.
Of the 47,750 homes under construction in the City of Toronto, 43,682 (91.48 per cent) of those were condos. Zooming out for a view of the entire Toronto metropolitan area, there were 52,714 condos under construction or 65.03 per cent of the total number of homes under construction.
Montreal was second on the list behind Toronto with 30,238 homes under construction in its metropolitan area. Within that total, 13,976 of those homes were being built in the City of Montreal.
Widely seen as Canada’s hottest up-and-coming market, Calgary was third on the list with 29,438 homes under construction in the city’s metropolitan area.
Here are the top 10 residential construction markets in Canada. Read the rest of the story and check out infographics about Canada's construction markets on BuzzBuzzHome.