Laval Doubles Its Construction Starts

This article written in french by Stéphane St-Amour was automatically translated using ChatGPT

The level of activity in the residential construction industry is twice as high as it was at the same time last year in Laval.

As of August 31, the Canada Mortgage and Housing Corporation (CMHC) recorded 1,322 housing units under construction, compared to 658 in 2023.

Rental Housing Dominates

The rental housing segment alone accounts for more than 90% of these new constructions.
Specifically, 1,213 rental units have broken ground this year, tripling the number of housing starts recorded during the same period last year.

Condo Market Diminished

On the other end of the spectrum, the condominium market has vanished. Zero new units two-thirds of the way through the year is unprecedented!
In fact, the last condominium project started on Île Jésus dates back to October 2023, 11 months ago.
Struggling in the Montreal Metropolitan Area (CMA), the condo market accounts for only 11% of the approximately 11,400 homes whose foundations were laid in 2024.

The 1,291 condos started by the end of August are distributed as follows: 632 in Montreal, 569 on the South Shore, 84 in Vaudreuil-Soulanges (within the CMA portion), and 6 on the North Shore.

Laval Gaining Market Share

Since the beginning of the year, Laval has significantly increased its share of the pie divided among the geographic sub-sectors of Greater Montreal.
If the trend continues, Quebec’s third-largest city will end the year with 12% of new construction.
For comparison, Laval accounted for 8% of all residential units started last year. In 2021 and 2022, its market share was 8% and 10%, respectively, within Greater Montreal.

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