Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

August 09, 2011 08:15 ET

CMHC: July 2011 Housing Starts

OTTAWA, ONTARIO--(Marketwire - Aug. 9, 2011) - The seasonally adjusted annual rate(1) of housing starts was 205,100 units in July, according to Canada Mortgage and Housing Corporation (CMHC). This is up from 196,600 units in June 2011.

"Housing starts rose in July due to an increase in multiple starts in all regions except Quebec," said Mathieu Laberge, Deputy Chief Economist at CMHC's Market Analysis Centre. "The multiples sector showed continued strength in Ontario and a significant increase in British Columbia and in the Atlantic region."

The seasonally adjusted annual rate of urban starts increased by 4.7 per cent to 185,200 units in July. Multiple urban starts were up by 13 per cent to 120,200 units, while urban single starts decreased by 7.8 per cent in July to 65,000 units.

July's seasonally adjusted annual rate of urban starts increased by 36.1 per cent in the Atlantic region, by 33 per cent in British Columbia, and by 1.7 per cent in Ontario. Quebec posted a decrease of 7.8 per cent over the same period, while urban starts decreased by 0.3 per cent in the Prairie region.

Rural starts(2) were estimated at a seasonally adjusted annual rate of 19,900 units in July.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. 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 informed decisions.

For more information, visit http://www.cmhc-schl.gc.ca or call 1-800-668-2642.

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

For regional starts information contact:
Atlantic provinces: Alex MacDonald, CMHC,
(902) 426-8964, amacdona@cmhc-schl.gc.ca
Quebec: Francis Cortellino, CMHC,
(514) 283-8391, fcortell@cmhc-schl.gc.ca
Ontario: Shaun Hildebrand, CMHC,
(416) 218-3466, shildebr@cmhc-schl.gc.ca
Prairie provinces: Richard Cho, CMHC,
(403) 515-2996, rcho@cmhc-schl.gc.ca
British Columbia: Carol Frketich, CMHC,
(604) 737-4067, cfrketic@cmhc-schl.gc.ca

A graph is available at the following address: http://media3.marketwire.com/docs/Graph_0809.pdf

Housing Starts, Actual and SAAR*
Actual SAAR
July
2010
July
2011
June
2011
July
2011
Revised Preliminary Revised Preliminary
Canada, all areas 18,142 18,679 196,600 205,100
Canada, rural areas 2,195 2,193 19,700 19,900
Canada, urban centres** 15,947 16,486 176,900 185,200
Canada, singles, urban centres 7,206 6,396 70,500 65,000
Canada, multiples, urban centres 8,741 10,090 106,400 120,200
Atlantic region, urban centres 1,348 1,318 9,700 13,200
Quebec, urban centres 4,157 3,406 42,500 39,200
Ontario, urban centres 4,949 6,432 71,700 72,900
Prairie region, urban centres 3,694 2,883 31,800 31,700
British Columbia, urban centres 1,799 2,447 21,200 28,200
Source: CMHC
*Seasonally adjusted annual rates
** Urban centres with a population of 10,000 and over.
Detailed data available upon request.

(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. By removing seasonal ups and downs, seasonal adjustment makes it possible to highlight the fundamental trends of a series. Reporting monthly figures at annual rates indicates the annual level of starts that would be obtained if the monthly pace was maintained for 12 months. This facilitates comparison of the current pace of activity to annual forecasts as well as to historical annual levels.

(2) CMHC estimates the level of starts in centres with a population of less than 10,000 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 these centres and revises the estimate.

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