Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

March 08, 2010 08:15 ET

CMHC: Quebec Housing Starts in February

MONTREAL, QUEBEC--(Marketwire - March 8, 2010) - According to the results of the latest monthly survey conducted by Canada Mortgage and Housing Corporation (CMHC), residential construction rose this past month in Quebec's centres with 10,000 or more inhabitants. In all, 1,947 dwellings were started in February 2010, compared to 1,410 a year earlier. However, the seasonally adjusted annual rate of starts for this same month (41,300) was down from the pace recorded in January (48,100).

In Quebec's census metropolitan areas (CMAs), starts rose by 35 per cent year-over-year in February (to 1,707 units in 2010, from 1,269 in 2009). All CMAs across Quebec, with the exception of the Gatineau area, posted gains during this period. The same was observed in the province's larger census agglomerations (CAs), as increases were recorded in four of these five centres. "Given the slowdown in residential construction noted a year ago, the major increases in activity registered this past January and February were not at all surprising. The variations should decrease in size as the year progresses, though, considering that starts rebounded over the course of 2009," said Kevin Hughes, Senior Economist at CMHC for Quebec.

An analysis of the data by housing type revealed that single-detached home construction rose by 15 per cent over February 2009, with half of the CMAs having registered increases. According to the survey results, the Montréal area posted one of the most notable hikes (+47 per cent).

In the multiple-unit housing segment, construction was up by 49 per cent in February over the same month a year earlier (rising to 1,450 units in 2010, from 976 in 2009). This increase in activity was attributable to both apartments and semi-detached and row houses. In the Québec CMA, multi-family housing starts more than doubled this past month compared to the same period last year.

Still according to the survey results, there were more freehold and rental housing starts, but fewer new condominium units, compared to February 2009. In this regard, rental housing construction stood out, with a hike of more than 100 per cent.

For January and February 2010, housing starts in Quebec's centres with 10,000 or more inhabitants were up by 43 per cent over the same period last year (rising to 4,858 units in 2010, from 3,407 in 2009). This result reflected the increases in activity recorded in the multiple-family housing segment (+48 per cent) and, to a lesser extent, in the single- detached home segment (+29 per cent).

As Canada's national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions. For more information, call 1-800-668-2642.

Preliminary Results - Monthly Starts Survey - Province of Quebec
(centres with 10,000+ inhab.)
 
  February        
 
    Singles       Multiples       Total  
  2009 2010 %   2009 2010 %   2009 2010 %
 
Centres with 100,000+ inhab.                      
 
GATINEAU 63 21 -67   127 54 -57   190 75 -61
MONTRÉAL 202 296 47   593 886 49   795 1,182 49
QUÉBEC 63 61 -3   128 273 *   191 334 75
SAGUENAY 2 5 *   0 4 *   2 9 *
SHERBROOKE 32 16 -50   27 57 *   59 73 24
TROIS-RIVIÈRES 4 9 *   28 25 -11   32 34 6
 
Subtotal (100,000+) 366 408 11   903 1,299 44   1,269 1,707 35
 
Centers with 50,000 to 99,999 inhab.                      
 
DRUMMONDVILLE 6 17 *   4 7 75   10 24 *
GRANBY 5 6 20   10 42 *   15 48 *
SAINT-HYACINTHE 0 1 *   0 6 *   0 7 *
SHAWINIGAN 1 2 *   0 0 0   1 2 *
SAINT-JEAN-SUR-RICHELIEU 1 9 *   26 0 -100   27 9 -67
 
Subtotal (50,000 to 99,999) 13 35 *   40 55 38   53 90 70
 
Quebec (estimate 10,000+) 434 497 15   976 1,450 49   1,410 1,947 38
 
January to February
 
    Singles       Multiples       Total  
  2009 2010 %   2009 2010 %   2009 2010 %
 
Centres with 100,000+ inhab.                      
 
GATINEAU 125 53 -58   315 181 -43   440 234 -47
MONTRÉAL 402 620 54   1,546 2,348 52   1,948 2,968 52
QUÉBEC 113 188 66   178 479 *   291 667 *
SAGUENAY 8 17 *   12 12 0   20 29 45
SHERBROOKE 79 62 -22   110 180 64   189 242 28
TROIS-RIVIÈRES 16 26 63   40 79 98   56 105 88
 
Subtotal (100,000+) 743 966 30   2,201 3,279 49   2,944 4,245 44
 
Centers with 50,000 to 99,999 inhab.                      
 
DRUMMONDVILLE 24 41 71   27 31 15   51 72 41
GRANBY 23 21 -9   68 92 35   91 113 24
SAINT-HYACINTHE 3 7 *   20 6 -70   23 13 -43
SHAWINIGAN 2 5 *   6 0 -100   8 5 -38
SAINT-JEAN-SUR-RICHELIEU 9 29 *   26 8 -69   35 37 6
 
Subtotal (50,000 to 99,999) 61 103 69   147 137 -7   208 240 15
 
Quebec (estimate 10,000+) 922 1,187 29   2,485 3,671 48   3,407 4,858 43
                       
* Absolute value greater than 100%

Contact Information

  • Province
    Kevin Hughes
    Senior Economist
    514-283-4488
    or
    Montreal
    Bertrand Recher
    Senior Market Analyst
    514-283-2758
    or
    Quebec
    Elisabeth Koulouris
    Senior Market Analyst
    418-649-8098
    or
    Gatineau (Outaouais, Abitibi)
    Patrice Tardif
    Senior Market Analyst
    514-283-2097
    or
    Sherbrooke (Estrie)
    David L'Heureux
    Senior Market Analyst
    514-496-2587
    or
    Trois-Rivieres (Mauricie)
    Marie-Elaine Denis
    Market Analyst
    418-649-8100
    or
    Saguenay
    Sebastien Paquet-Poirier
    Market Analyst
    418-649-8102