Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

October 08, 2010 08:15 ET

Canada Mortgage and Housing Corporation: British Columbia Housing Starts Trend Higher

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 8, 2010) - Builders started 2,305 homes in September, pushing year-to- date starts in urban British Columbia (centres with more than 10,000 people) to 17,791 units, according to Canada Mortgage and Housing Corporation's monthly survey of home starts.

New home construction in British Columbia picked up during the third quarter climbing to a seasonally-adjusted annual rate1 of 26,500 units in September, from 19,900 in July. "A pick up in the pace of multiple-unit (semi-detached, row and apartment) starts was behind the upward trend," noted Carol Frketich, CMHC BC Regional Economist. The rate of single-detached starts remained relatively stable, while the rate of multiple-unit starts rose to 18,200 units in September, from 11,700 units in July.

Nationally, the seasonally adjusted annual rate of total housing starts dipped to 186,400 units in September, from a revised 189,300 units in August.

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, and to download CMHC's housing reports, please visit CMHC's website at or call 1-800-668-2642.

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1All 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. This facilitates the comparison of the current pace of activity to annual forecasts as well as to historical annual levels.

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