Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

January 11, 2016 08:15 ET

December 2015 Housing Starts in Oshawa

TORONTO, ONTARIO--(Marketwired - Jan. 11, 2016) - Housing starts in the Oshawa Census Metropolitan Area (CMA) trended higher at 2,710 in December compared to 2,682 in November 2015 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.

"Despite a slight pull-back in single-detached construction in Oshawa CMA, row starts trended higher, supporting marginal increase in total housing starts in December. Actual starts in 2015 grew by more than 50 per cent, as this relatively affordable community continues to gain popularity among homebuyers. Furthermore, rental apartment starts, which reached a 25 year high, have also contributed to this year's increase," said Andrew Scott, CMHC's Senior Market Analyst for the GTA.

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 standalone monthly SAAR increased to 2,231 units in December, up from 1,747 in November 2015. Townhouse starts predominantly led to this increase.

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

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