Société canadienne d'hypothèques et de logement

Société canadienne d'hypothèques et de logement

April 08, 2008 23:59 ET

Housing starts move up in March

OTTAWA, April 8 - The seasonally adjusted annual rate(1) of
housing starts increased to 154,700 units in March from 136,100 units in
February, according to Canada Mortgage and Housing Corporation (CMHC).

"Higher multiple starts in Ontario and Quebec were the main contributors
to the rise in new construction activity in March," said Bob Dugan, Chief
Economist at CMHC's Market Analysis Centre. "While the multiples segment
experienced the largest increase, the overall boost in starts was broad based,
encompassing the singles segment as well."

The seasonally adjusted annual rate of urban starts increased 17 per cent
to 127,900 units in March. Urban multiple starts increased 28.3 per cent to
81,500 units, while urban single starts moved up by 1.3 per cent to 46,400
units in March.

March's seasonally adjusted annual rate of urban starts increased by 35
per cent in Ontario and by 23.3 per cent in Quebec. Urban starts declined by
17.3 per cent in British Columbia, by 7.9 per cent in Atlantic Canada, and by
7.5 per cent in the Prairies.
Rural starts were estimated at a seasonally adjusted annual rate of
26,800 units in March(2).

New home construction is now at a more sustainable level after having
been exceptionally strong over the past 7 years, exceeding 200,000 units per
year.

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 - homes that will continue to create vibrant
and healthy communities and cities across the country.



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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.

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

This release is also available on the CMHC Web site:
http://www.cmhc-schl.gc.ca

(Ce document existe également en français)

Please click below to view the Housing Starts in Canada - All areas chart
http://www.cmhc-schl.gc.ca/en/corp/nero/nere/2009/2009-04-08-0815.cfm




Housing Starts, Actual and SAAR(*)
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Actual SAAR
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March March February March
2008 2009 2008 2009
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Final Preliminary Final Preliminary
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Canada, all areas 16,423 9,728 136,100 154,700
Canada, rural areas 807 1,099 26,800 26,800
Canada, urban
centres(xx) 15,616 8,629 109,300 127,900
Canada, singles,
urban centres 4,749 2,566 45,800 46,400
Canada, multiples,
urban centres 10,867 6,063 63,500 81,500

Atlantic region,
urban centres 522 244 8,800 8,100
Quebec, urban centres 2,968 2,561 28,700 35,400
Ontario, urban
centres 4,987 4,113 45,100 60,900
Prairie region, urban
centres 4,768 967 14,600 13,500
British Columbia,
urban centres 2,371 744 12,100 10,000
-------------------------------------------------------------------------
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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