Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

September 08, 2016 16:46 ET

August 2016 Housing Starts in Kingston

TORONTO, ONTARIO--(Marketwired - Sept. 8, 2016) - Housing starts in the Kingston Census Metropolitan Area (CMA) were trending at 460 units in August compared to 458 units in July according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

"The trend in housing starts in Kingston remained unchanged from the previous month as a drop in single-detached homes was met by a rise in townhomes," said Aris Gianneskis, CMHC's Market Analyst for Kingston. "On a year to date basis, total starts are down, as no new apartment construction has taken place. Market intelligence suggests that builders are patiently waiting as they work out the details pending final approvals for new projects."

CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of the housing market. In some situations, analysing only SAAR data can be misleading in some markets, as they are largely driven by the multiples segment of the markets, which can be quite variable from one month to the next. The multiples segment includes apartments, rows and semi-detached homes.

The standalone monthly SAAR was 375 units in August, down from 641 in July, as the rise in townhomes was not enough to offset the large decrease in single-detached and apartment housing starts.

Preliminary Housing Starts data is also available in English and French at the following link: Preliminary Housing Starts Tables.

As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.

For more information, visit our website at www.cmhc.ca or follow us on Twitter, YouTube, LinkedIn and Facebook.

Additional data is available upon request.

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To view the graph and tables associated with this release, please visit the following link: http://media3.marketwire.com/docs/cmhc0908kine.pdf.

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