Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

June 08, 2009 23:59 ET

Quebec housing starts in may

MONTREAL, June 8 - According to the results of the latest
monthly survey conducted by Canada Mortgage and Housing Corporation (CMHC),
residential construction in Quebec's centres with 10,000 or more inhabitants
declined this past month. Foundations were laid for a total of 3,594 housing
units in May, compared to 4,659 a year earlier. The seasonally adjusted annual
rate of starts reached 34,200 units, up over the April level (33,100 units).

"The May results do not surprise us, given the recently weak labour
market and easing of the resale market since the fall of last year," said
Kevin Hughes, Senior Economist at CMHC for Quebec.

The slowdown in residential construction observed in May was mainly due
to the low volume of single-detached home starts (-31 per cent). During the
same period, new multiple-family (semi-detached, row and apartment) housing
units fell by 17 per cent. The decrease in activity was more significant in
the single-detached home segment for a second straight month.

Quebec's census metropolitan areas (CMAs) posted mixed results this past
month. In fact, while home construction was up in Gatineau (+27 per cent) and
Sherbrooke (+4 per cent), decreases were registered in Trois-Rivières (-75 per
cent), Montréal (-29 per cent) and Saguenay (-17 per cent). In the Québec CMA,
695 housing starts were enumerated during May, or practically the same number
as in the same month last year.

Just like in April, single-detached home starts fell in most of Quebec's
CMAs last month, while the results were much more varied in the multi-unit
housing segment (see table).

As well, the survey revealed that residential construction fell in all
large census agglomerations (CAs), except Saint-Hyacinthe.

Still according to the survey, housing starts in Quebec were down in all
intended markets (freehold, rental and condominium), although the decline was
smaller in the case of freehold homes. Compared to the first five months of
2008, housing activity in Quebec was down by 24 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-homes that will continue to create vibrant
and healthy communities and cities across the country. For more information,
visit www.cmhc.ca or call 1-800-668-2642.


May

Singles Multiples Total
2008 2009 % 2008 2009 % 2008 2009 %
------------------ ------------------- --------------------
Centres with
100,000+ inhab.

GATINEAU 111 110 -1 114 176 54 225 286 27
MONTREAL 894 526 -41 1,586 1,234 -22 2,480 1,760 -29
QUEBEC 250 232 -7 443 463 5 693 695 0
SAGUENAY 63 43 -32 20 26 30 83 69 -17
SHERBROOKE 96 98 2 114 121 6 210 219 4
TROIS-RIVIERES 52 45 -13 144 4 -97 196 49 -75

Subtotal
(100,000+) 1,466 1,054 -28 2,421 2,024 -16 3,887 3,078 -21

Centres with
50,000 to
99,999 inhab.

DRUMMONDVILLE 38 51 34 41 25 -39 79 76 -4
GRANBY 30 29 -3 32 23 -28 62 52 -16
SAINT-HYACINTHE 15 8 -47 4 28 (xxx) 19 36 89
SAINT-JEAN-SUR-
RICHELIEU 28 32 14 10 3 -70 38 35 -8
SHAWINIGAN 16 4 -75 8 6 -25 24 10 -58

Subtotal
(50,000 to
99,999) 127 124 -2 95 85 -11 222 209 -6

Quebec
(estimate
10,000+) 1,945 1,349 -31 2,714 2,245 -17 4,659 3,594 -23


January to May

Singles Multiples Total
2008 2009 % 2008 2009 % 2008 2009 %
------------------ ------------------- --------------------
Centres with
100,000+ inhab.

GATINEAU 372 386 4 617 875 42 989 1,261 28
MONTREAL 2,999 1,792 -40 6,889 5,420 -21 9,888 7,212 -27
QUEBEC 787 667 -15 1,609 986 -39 2,396 1,653 -31
SAGUENAY 125 90 -28 53 56 6 178 146 -18
SHERBROOKE 246 255 4 290 317 9 536 572 7
TROIS-RIVIERES 147 117 -20 312 122 -61 459 239 -48

Subtotal
(100,000+) 4,676 3,307 -29 9,770 7,776 -20 14,446 11,083 -23

Centres with
50,000 to
99,999 inhab.

DRUMMONDVILLE 115 103 -10 107 70 -35 222 173 -22
GRANBY 98 69 -30 127 115 -9 225 184 -18
SAINT-HYACINTHE 45 21 -53 54 57 6 99 78 -21
SAINT-JEAN-SUR-
RICHELIEU 108 81 -25 77 53 -31 185 134 -28
SHAWINIGAN 31 15 -52 16 16 0 47 31 -34

Subtotal
(50,000 to
99,999) 397 289 -27 381 311 -18 778 600 -23

Quebec
(estimate
10,000+) 5,909 4,078 -31 10,807 8,553 -21 16,716 12,631 -24

(xxx) Absolute value greater than 100%

Contact Information

  • Province of Quebec: Kevin Hughes, Senior
    Economist, (514) 283-4488; Montréal: Stéphane Duguay, Market Analyst, (514)
    496-1468; Sherbrooke (Estrie): Francis Cortellino, Market Analyst, (514)
    283-8391; Québec: Elisabeth Koulouris, Senior Market Analyst, (418) 649-8098;
    Trois-Rivières (Mauricie): Marie-Elaine Denis, Market Analyst, (418) 649-8100;
    Gatineau (Outaouais, Abitibi): Patrice Tardif, Senior Market Analyst, (514)
    283-2097; Saguenay: Patrice Tardif, Senior Market Analyst, (514) 283-2097