Housing starts up 3% in January

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Canada Mortgage and Housing Corporation says the annual pace of housing starts in January rose three per cent compared with December, helped by strength in multi-unit starts in Quebec and B.C.

Canada Mortgage and Housing Corporation says the seasonally adjusted annual rate of housing starts was 239,739 units in January, up from 232,492 in December.

The increase came as the annual pace of urban starts also rose three per cent to 220,643 in January compared with 215,052 in December.

The annual pace of multi-unit urban starts, such as apartments, condominiums and townhouses, rose eight per cent, driven by more purpose-built rentals concentrated in Quebec and British Columbia.