Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

September 09, 2009 23:59 ET

Housing starts increase in August

OTTAWA, Sept. 9 - The seasonally adjusted annual rate(1) of housing starts increased to 150,400 units in August from 134,200 units in July, according to Canada Mortgage and Housing Corporation (CMHC).

"Housing starts are trending higher, reflecting improvements in both the single and multiple segments," said Bob Dugan, Chief Economist at CMHC's Market Analysis Centre. "The improvement in housing starts is consistent with our expectation of a stronger second half for 2009."

The seasonally adjusted annual rate of urban starts increased by 14.0 per cent to 131,800 units in August. Urban multiple starts increased by 23.8 per cent to 77,600 units, while urban single starts moved up 2.5 per cent to 54,200 units in August.

August's seasonally adjusted annual rate of urban starts increased by 56.0 per cent in British Columbia, by 16.1 per cent in the Prairies, by 13.8 per cent in Ontario, by 9.6 per cent in Atlantic Canada, and by 2.5 per cent in Quebec.

Rural starts were estimated at a seasonally adjusted annual rate of 18,600 units in August(2).

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, visit www.cmhc.ca or call 1-800-668-2642.

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                 Housing Starts, Actual and SAAR(*)

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                                  Actual                     SAAR

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                           August       August         July       August

                             2008         2009         2009         2009

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                            Final  Preliminary        Final  Preliminary

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                      Preliminary  Preliminary  Preliminary  Preliminary

Canada, all areas          19,626       14,177      134,200      150,400

  Canada, rural areas       2,819        1,990       18,600       18,600

  Canada, urban

   centres(xx)             16,807       12,187      115,600      131,800

    Canada, singles,

     urban centres          7,063        5,211       52,900       54,200

    Canada, multiples,

     urban centres          9,744        6,976       62,700       77,600

    Atlantic region,

     urban centres            879          835        7,300        8,000

    Quebec, urban centres   3,082        3,409       40,000       41,000

    Ontario, urban centres  8,026        4,172       36,900       42,000

    Prairie region,

     urban centres          2,380        2,271       20,500       23,800

    British Columbia,

     urban centres          2,440        1,500       10,900       17,000

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Source: CMHC

(*) Seasonally adjusted annual rates

(xx)Urban centres with a population of 10,000 and over.

    Detailed data available upon request.

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(1) All starts figures in this release, other than actual starts, are

    seasonally adjusted annual rates (SAAR) - that is, monthly figures

    adjusted to remove normal seasonal variation and multiplied by 12 to

    reflect annual levels.

(2) CMHC estimates the level of rural starts for each of the three months

    of the quarter, at the beginning of each quarter. During the last

    month of the quarter, CMHC conducts the survey in rural areas and

    revises the estimate. 

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