TORONTO, ONTARIO--(Marketwired - July 11, 2016) - Housing starts in Brantford, Census Metropolitan Area (CMA) were trending down at 380 units in June compared to 677 units in May, 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 trend in Brantford CMA total housing starts decreased in June, entirely due to a lower number of multi-unit housing starts. Conversely, the trend in single-detached housing starts was up in June, marking the fifth consecutive monthly increase," said Abdul Kargbo, CMHC's Senior Market Analyst for the Hamilton and Brantford CMAs. "Single-detached homes continued to be the preferred home type, particularly for out-of-town buyers. Many of them are moving to Brantford from other communities to take advantage of the relatively affordable new single-detached homes being built there."
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.
The standalone monthly SAAR was 183 units in June, down from 595 units in May. The June decrease in the SAAR measure was mostly due to fewer single-detached housing starts compared to May. However, year-to-date single-detached housing starts were up 10.2 per cent compared to the same six-month period in 2015.
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.
Information on this release:
Additional data is available upon request.
To view the graph and tables associated with this release, please visit the following link: http://media3.marketwire.com/docs/1062098A_TABLES.pdf