Nova Scotia must double housing starts to restore pre-COVID affordability: report

Workers hang a banner prior to a federal government housing announcement in Dartmouth, N.S., on Tuesday, April 2, 2024. THE CANADIAN PRESS/Darren Calabrese

HALIFAX - Canada’s national housing agency says the number of annual residential construction starts in Nova Scotia must double for ten years for the market to reach pre-pandemic affordability levels, a target the province says is doable — with multi-level government support.

Lukas Jasmin-Tucci, an economist with Canada Mortgage and Housing Corporation, said Nova Scotia should aim to hit 12,540 housing starts a year until 2035. The agency estimates the province is on track this year to hit about 5,450 housing starts, which refer to the beginning of construction on a new home or multi-unit residential building. 

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