Canada Mortgage and Housing Corporation



Canada Mortgage and Housing Corporation

February 08, 2013 08:53 ET

January 2013 Housing Starts in Halifax

HALIFAX, NOVA SCOTIA--(Marketwire - Feb. 8, 2013) - Housing starts in Halifax, Census Metropolitan Area (CMA) were trending at 4,309 units in January, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)1 of housing starts.

"The pace of residential construction in Halifax increased in January," said Tim Andrews, CMHC's Market Analyst for Nova Scotia. "The quickening pace was attributed to a significant increase in multiple starts in January," added Andrews. "In the single-detached segment of the market, starts were lower," Andrews said.

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 was 5,953 units in January, up from 1,266 in December.

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

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of 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.

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1 All starts figures in this release, other than actual starts and the trend estimate, 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 allows for a comparison from one season to the next and from one month to the next. 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.

Additional data is available upon request

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A graph is available at the following link: http://media3.marketwire.com/docs/halifax_housing_02082013.jpg.

Preliminary Housing Start Data
January / 2012-2013
Halifax CMA1 January 2012 January 2013
Actual
January - Single-Detached 59 41
January - Multiples 18 430
January - Total 77 471
January to January - Single-Detached 59 41
January to January - Multiples 18 430
January to January - Total 77 471
December 2012 January 2013
SAAR 2
Total 1,266 5,953
Source: CMHC
1 Census Metropolitan Area
2 Seasonally Adjusted at Annual Rates
Detailed data available upon request
Preliminary Housing Start Data
January / 2012-2013
Nova Scotia, Centres 10,000+ January 2012 January 2013
Actual, urban centres 1
January - Single-Detached 97 55
January - Multiples 27 443
January - Total 124 498
January to January - Single-Detached 97 55
January to January - Multiples 27 443
January to January - Total 124 498
December 2012 January 2013
SAAR 2, urban centres 1
Total 2,566 6,825
Source: CMHC
1 Urban centres with a population of 10,000 and over.
2 Seasonally Adjusted at Annual Rates
Detailed data available upon request
Nova Scotia Preliminary Actual Housing Start Data
January / 2012-2013
Urban Centres Single-Detached Multiples Total
2012 2013 2012 2013 2012 2013
Urban Centres 100,000+
Halifax CMA 59 41 18 430 77 471
Cape Breton RGM 9 6 2 10 11 16
Total Urban Starts1 97 55 27 443 124 498
Nova Scotia Preliminary Actual Housing Start Data
January to January / 2012-2013
Urban Centres Single-Detached Multiples Total
2012 2013 2012 2013 2012 2013
Urban Centres 100,000+
Halifax CMA 59 41 18 430 77 471
Cape Breton RGM 9 6 2 10 11 16
Total Urban Starts1 97 55 27 443 124 498
1 Urban starts include an estimate for the areas 10,000-49,999 for the first two months in a quarter and are subject to revision(s) after quarterly enumeration in the third and final month of the quarter.

Contact Information

  • Market Analysis Contact:
    Tim Andrews
    902-426-8465
    Cell: 902-499-4382
    tdandrew@cmhc.ca

    Media Contact:
    Caroline Arsenault
    902-426-8127
    Cell: 902-452-4448
    cmarsena@cmhc.ca