Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

August 11, 2015 08:15 ET

July 2015 Housing Starts in Ottawa

OTTAWA, ONTARIO--(Marketwired - Aug. 11, 2015) - Housing starts in the Ottawa Census Metropolitan Area (CMA) were trending at 4,491 units in July compared to 4,207 units in June 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.

"Housing starts trended slightly up in July but continued on a moderating path compared to a year earlier across all dwelling types. Year-to-date single-detached and row starts have declined at a more modest pace than apartment starts. Inventory management in the high-rise segment of the market continues to limit new starts. However, starts in the low-rise segment have strengthened since 2014 on the heels of a scale-back in the 2012-2013 period. Demand for low-rise dwellings has also remained steady on the resale side," said Anne-Marie Shaker, Market Analyst Ottawa.

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 multiples segment includes apartments, rows and semi-detached homes.

In Ottawa, the monthly SAAR measure was 4,562 in July down from 8,918 in June driven by a sharp decline in apartment starts.

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.

Follow CMHC on Twitter @CMHC_ca

(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.

(Ce document existe également en français)

Tables and a graph are available at the following address:

Contact Information

  • Media Contact:
    Angelina Ritacco,
    Public Affairs Advisor, Communications and Marketing
    Cell: 647-210-7420