November 2012 Housing Starts in Oshawa

TORONTO, ONTARIO--(Marketwire - Dec. 10, 2012) - Housing starts in Oshawa Census Metropolitan Area (CMA) were trending at 1,453 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 1,218 units in November, down from 1,556 in October.

"New home construction activity in Oshawa has been losing speed over the past months. A reduced supply of new low-rise homes available for sale, particularly in Whitby and Oshawa City, has been one of the key factors," said Inna Breidburg, CMHC's Market Analyst for Oshawa CMA.

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.

Due to a slowdown in the single-detached segment, total November starts in Oshawa CMA were down by more than 50 per cent compared to the same period last year. Thanks to stronger new home construction activity earlier this year, year-to-date starts totalled 1,671 units, only four per cent lower than in 2011. The highest number of housing starts in the CMA this year was recorded in Clarington.

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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A graph is available at the following address: http://media3.marketwire.com/docs/e1210cmhc_oshawa.jpg

Preliminary Housing Start Data
November / 2011-2012
Oshawa, CMA1			2011	2012
	Actual
		November - Single-Detached	210	88
		November - Multiples	22	32
		November -Total	232	120
		January to November - Single-Detached	1,297	1,059
		January to November - Multiples	445	612
		January to November -Total	1,742	1,671
			October 2012	November 2012
	SAAR2
		Total	1,556	1,218
Source: CMHC
1 Census Metropolitan Area
2 Seasonally Adjusted at Annual Rates
Detailed data available upon request.

	Durham Region Preliminary Actual Housing Start Data by Type
	November / 2011-2012
	Single		Semi		Row		Apt		Total
	2011	2012	2011	2012	2011	2012	2011	2012	2011	2012
Whitby	79	29	0	2	10	0	0	0	89	31
Oshawa City	47	38	0	0	0	0	12	9	59	47
Clarington	84	21	0	8	0	13	0	0	84	42
Total Oshawa CMA1	210	88	0	10	10	13	12	9	232	120
Pickering	152	6	0	0	0	0	0	0	152	6
Ajax	43	26	10	0	0	16	0	0	53	42
Uxbridge	4	1	0	0	0	0	0	0	4	1
Brock	1	0	0	0	0	0	0	0	1	0
Scugog	1	2	0	0	0	0	0	0	1	2
Total Durham Region Starts	411	123	10	10	10	29	12	9	443	171
	Durham Region Preliminary Actual Housing Start Data by Type
	Year to Date / 2011-2012
	Single		Semi		Row		Apt		Total
	2011	2012	2011	2012	2011	2012	2011	2012	2011	2012
Whitby	474	268	0	2	159	133	0	211	633	614
Oshawa City	321	260	40	26	77	57	44	9	482	352
Clarington	502	531	0	14	125	78	0	82	627	705
Total Oshawa CMA1	1,297	1,059	40	42	361	268	44	302	1,742	1,671
Pickering	277	247	0	0	76	46	235	0	588	293
Ajax	345	310	88	42	249	200	0	0	682	552
Uxbridge	48	41	0	0	0	0	0	0	48	41
Brock	16	8	0	0	0	0	0	0	16	8
Scugog	16	17	0	0	0	0	0	0	16	17
Total Durham Region Starts	1,999	1,682	128	84	686	514	279	302	3,092	2,582
1Census Metropolitan Area