Canada Mortgage and Housing Corporation



Canada Mortgage and Housing Corporation

December 10, 2012 08:15 ET

November 2012 Housing Starts in Barrie

TORONTO, ONTARIO--(Marketwire - Dec. 10, 2012) - Housing starts in the Barrie Census Metropolitan Area (CMA) were trending at 926 units in November, 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 standalone monthly SAAR was 699 units in November, up from 539 in October.

"New construction in the Barrie CMA continues to perform well this year. The relatively affordable housing market in Barrie is attracting a variety of buyers," said Abdellah Massaoudi, CMHC's Market Analyst for Barrie.

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.

Single-detached starts added 29 actual units in November 2012. Other housing starts totalled 22 actual units in November while there was no construction of other housing types last year in November. Year-to-date housing starts reached 721, more rows and apartments were started compared to last year. Across the zones in the CMA, the City of Barrie has the biggest share of the new construction total.

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.

(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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Preliminary Housing Start Data
November 2012
Barrie, CMA(1) November 2011 November 2012
Actual
November- Single-Detached 22 29
November- Multiples 0 22
November- Total 22 51
January to Nov- Single-Detached 328 428
January to November- Multiples 338 293
January to November- Total 666 721
October 2012 November 2012
SAAR(2)
Total 539 699

Source: CMHC

(1) Census Metropolitan Area

(2) Seasonally Adjusted at Annual Rates

Detailed data available upon request.

Barrie Preliminary Actual Housing Start Data by Type
November 2012
Barrie, CMA(1) Single Semi Row Apt
Total
2011 2012 2011 2012 2011 2012 2011 2012 2011 2012
List of Zones
Barrie C 6 13 0 0 0 13 0 9 6 35
Innisfil TP 12 9 0 0 0 0 0 0 12 9
Springwater TP 4 7 0 0 0 0 0 0 4 7
Total Barrie Starts 22 29 0 0 0 13 0 9 22 51
Barrie Preliminary Actual Housing Start Data by Type
Year to Date / 2011-2012
Barrie, CMA(1) Single Semi Row Apt
Total
2011 2012 2011 2012 2011 2012 2011 2012 2011 2012
List of Zones
Barrie C 157 171 0 4 48 135 267 90 472 400
Innisfil TP 115 197 0 0 22 18 0 0 137 215
Springwater TP 56 60 1 0 0 13 0 33 57 106
Total Barrie Starts 328 428 1 4 70 166 267 123 666 721

(1) Census Metropolitan Area

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