Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

January 11, 2016 08:15 ET

December 2015 Housing Starts in Gatineau

MONTRÉAL, QUÉBEC--(Marketwired - Jan. 11, 2016) - Housing starts in the Gatineau area were trending at 1,626 units in December, compared to 1,570 in November, 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.

In December, the housing starts trend rose slightly. This one-time gain did not prevent a decrease in the annual total, however, as 1,584 housing starts were recorded in 2015, down 17 per cent from the 2014 total. "Residential construction in the Gatineau area has slowed down for a third consecutive year and reached its lowest level in nearly 15 years. The most significant decrease was observed in the condominium market segment, where the inventory of unsold new units is particularly high. This situation likely prompted builders to slow the pace," said Geneviève Lapointe, CMHC's Senior Market Analyst for the Gatineau area.

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, analyzing 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 stand-alone monthly SAAR was 1,803 units in December, up from 998 in November.

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.

(Ce document existe également en français.)

Tables and a graph are available at the following address: http://media3.marketwire.com/docs/103880a.pdf

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