Canada Mortgage and Housing Corporation



Canada Mortgage and Housing Corporation

December 10, 2012 08:15 ET

November 2012 Housing Starts in Guelph

TORONTO, ONTARIO--(Marketwire - Dec. 10, 2012) - Housing starts in the Guelph Census Metropolitan Area (CMA) were trending at 900 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 480 units in November, up from 210 in October.

"A tight resale market has increased spillover of demand to the new home market resulting in higher starts this year. Census data has shown that households are getting smaller. With an increase in couples with no children, lone-parent families and one-person households, there is more demand for smaller, more affordable homes such as townhomes and apartments, said Erica McLerie, CMHC's Senior Market Analyst for Guelph.

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.

Construction began on 41 homes in November, up from the 33 units started last year. Builders started 36 single-detached homes in November, up from the 24 homes started a year ago. Townhouse starts decreased to 5 units from the 7 units started in November 2011. Due to increased activity for single-detached homes, townhomes and apartments, starts in the first eleven months of 2012 have outpaced starts in the same period of 2011.

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
Guelph, CMA1 November 2011 November 2012
Actual
Nov - Single-Detached 24 36
Nov - Multiples 9 5
Nov - Total 33 41
Jan to Nov - Single-Detached 242 256
Jan to Nov - Multiples 354 436
Jan to Nov - Total 596 692
October 2012 November 2012
SAAR2
Total 210 480
Source: CMHC
1 Census Metropolitan Area
2 Seasonally Adjusted at Annual Rates
Detailed data available upon request.
Guelph Preliminary Actual Housing Start Data by Type
November 2012
Guelph, CMA1 Single Semi Row Apt
Total
2011 2012 2011 2012 2011 2012 2011 2012 2011 2012
Sub-Markets
Guelph City 21 27 2 0 7 5 0 0 30 32
Guelph-Eramosa Township 3 5 0 0 0 0 0 0 3 5
Puslinch Township NA 4 NA 0 NA 0 NA 0 NA 4
Total Guelph CMA Starts 24 36 2 0 7 5 0 0 33 41
Guelph Preliminary Actual Housing Start Data by Type
Year-to-Date / 2011-2012
Guelph, CMA1 Single Semi Row Apt
Total
2011 2012 2011 2012 2011 2012 2011 2012 2011 2012
Sub-Markets
Guelph City 224 217 44 44 144 198 166 194 578 653
Guelph-Eramosa Township 18 14 0 0 0 0 0 0 18 14
Puslinch Township NA 25 NA 0 NA 0 NA 0 NA 25
Total Guelph CMA Starts 242 256 44 44 144 198 166 194 596 692

1Census Metropolitan Area

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