Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

August 09, 2016 08:15 ET

July 2016 Housing Starts in Ottawa

OTTAWA, ONTARIO--(Marketwired - Aug. 9, 2016) - Housing starts in the Ottawa Census Metropolitan Area (CMA) were trending at 4,475 units in July compared to 4,533 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) of housing starts.

"The continued downward trend in apartment starts more than offset the upward trend in low-rise dwelling starts, putting slight downward pressure on total housing starts activity in July," said Anne-Marie Shaker, CMHC's Senior Market Analyst for Ottawa. "While the inventory of completed and unsold condominium units has come off from previous peaks, builders remain cautious at this time. About 40 per cent of the apartments started this month were rentals."

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 4,477 in July, down from 5,637 in June due to a decline in single-detached and row starts following four and five months of increases, respectively.

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/1065263e.pdf

Contact Information

  • Media Contact:
    Angelina Ritacco
    Public Affairs Advisor, Communications and Marketing
    416-218-3320
    Cell: 647-210-7420
    aritacco@cmhc.ca