New data from the Canada Mortgage and Housing Corporation (CMHC) reveals a notable increase in residential construction activity in the Peterborough region for the fourth quarter of 2024.
In the City and County of Peterborough, 98 homes began construction in Q4, with 86 units completed—up from 68 completions in the previous quarter. The City of Peterborough saw 1 single unit, 15 row units, and 51 apartment/condo units started. The surrounding municipalities also contributed, with Cavan Monaghan, Douro Dummer, Otonabee South Monaghan, and Selwyn each starting new single units.
The County of Peterborough saw 26 single-unit completions in Selwyn, 13 in Otonabee South Monaghan, 4 in Douro Dummer, and 7 in Cavan Monaghan.
In the City of Kawartha Lakes, Q4 2024 experienced significant growth, with 82 single-unit starts, up from 31 in the previous quarter. Additionally, the city began 2 semi-detached units, 90 row units, and 30 apartment/condo units.
For the full year of 2024, the City of Kawartha Lakes recorded 399 new housing starts, including 246 single units, while the City of Peterborough saw 216 new starts. Both cities are working to meet provincial housing targets, with the City of Kawartha Lakes required to start 542 units annually and the City of Peterborough 392 units.
These figures reflect ongoing efforts to address housing demand in the region, with both cities continuing to issue building permits and progress toward meeting targets set by the province.
(Written by: Scott Arnold)
