P.E.I. housing boom continues into fall

P.E.I. recorded a big increase in housing starts last month over October of 2016, as demand pushed the construction season later into the fall, according to the Canada Mortgage and Housing Corporation.

In an email to CBC News, CMHC noted October is not typically a big month for housing starts, with only 14 in October of last year. That rose to 56 this October, a 300 per cent increase.

Population growth, largely from immigration, has been a major driver of the housing market.

For the year to date, starts are up 54 per cent. CMHC says single-detached homes in the Charlottetown area are the main driver of the market.

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