The Economics and Statistics Division maintains archives of previous publications for accountability purposes, but makes no updates to keep these documents current with the latest data revisions from Statistics Canada. As a result, information in older documents may not be accurate. Please exercise caution when referring to older documents. For the latest information and historical data, please contact the individual listed to the right.
<--- Return to Archive
For additional information relating to this article, please contact:
March 20, 2025HOUSING STARTS, FEBRUARY 2025 Monthly (February 2025 vs January 2025, seasonally adjusted annualized rate)
Nova Scotia’s housing starts (seasonally adjusted annualized rate) totalled 7,813 units in February 2025. This was a 9.8% decline from the previous month's revised value of 8,658.
Housing starts in Halifax declined to a seasonally adjusted annualized rate of 5,693 units in February 2025, down 11.3% from 6,420 units in January 2025.
Outside of Halifax, housing starts fell to a seasonally adjusted annualized rate of 2,120 units in February 2025, down 5.3% from 2,238 units in January 2025.
Across Canada, housing starts fell to a seasonally adjusted annualized rate of 229,030 units in February 2025, down 4.3% from 239,322 units reported in January 2025.
Housing starts were down in six provinces in February 2025, with the fastest percentage gain in Saskatchewan and New Brunswick. Prince Edward Island reported the sharpest monthly decline in housing starts. (Note: monthly changes in seasonally adjusted annualized housing starts are often volatile).
Year-over-year (February 2025 vs February 2024, seasonally adjusted annualized rate)
Nova Scotia's housing starts were down 40.2% compared with 13,076 units pace in February 2024. Halifax housing starts were down 47.9% from their rate in February 2024 (10,929). Housing starts outside the city were down 1.3% year-over-year from their pace in February 2024 (2,147). Across Canada, housing starts were down 11.9% year-over-year in February 2025 with gains in five provinces. Prince Edward Island and Saskatchewan reported the largest year-over-year gain in housing starts in February. Nova Scotia reported the steepest decline in housing starts year-over-year.
In unadjusted results for Halifax in February 2025, there were 441 housing starts and 234 completions. The stock of units under construction rose to 10,966 units in Halifax from the previous month, up 14.0% from units under construction in the same month last year (9,617).
Year-to-date (January-February 2024 vs January-February 2025)
Nova Scotia housing starts have declined 17.4% in the first two months of 2025 compared to the same period a year ago. Halifax housing starts have declined 20.6% in January-February 2025 compared to the same period a year ago, while housing starts in the rest of Nova Scotia declined 7.3%. Nationally, housing starts have declined 4.6% in the first two months of 2025, with five provinces posting an increase in housing starts. Prince Edward Island and Saskatchewan posted the largest gains and Ontario posted the largest decline in housing starts.
Source: Statistics Canada, Table 34-10-0158-01 Canada Mortgage and Housing Corporation, housing starts, all areas, Canada and provinces, seasonally adjusted at annual rates, monthly (x 1,000) ; Table 34-10-0156-01 Canada Mortgage and Housing Corporation, housing starts in all centres 10,000 and over, Canada, provinces, and census metropolitan areas, seasonally adjusted at annual rates, monthly (x 1,000)
<--- Return to Archive
