Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

July 11, 2016 08:15 ET

June 2016 Housing Starts in Oshawa

TORONTO, ONTARIO--(Marketwired - July 11, 2016) - Housing starts in the Oshawa Census Metropolitan Area (CMA) trended higher at 2,904 in June 2016 compared to 2,555 in May 2016 according to Canada Mortgage and Housing Corporation (CMHC).The trend is a six month moving average of the monthly seasonally adjusted annual rate (SAAR)[1] of housing starts.

"Deteriorating affordability in the Greater Toronto area continue draw new home buyers into lower priced communities in the Oshawa CMA," 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 soared to 4,303 units in June 2016 from 2,420 in May 2016. All construction types registered strong increases except for semi-detached homes. Clarington was the clear leader in the CMA's new home construction.

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/1062124e.pdf

Contact Information

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