Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

December 08, 2016 08:15 ET

November 2016 Housing Starts in Ottawa

OTTAWA, ONTARIO--(Marketwired - Dec. 8, 2016) - Housing starts in the Ottawa Census Metropolitan Area (CMA) were trending at 5,874 units in November compared to 6,185 units in October 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.

"Housing starts trended down in November due mainly to a decline in apartment starts as builders continue to manage their inventories. Row starts also trended down, ending an 8 months stretch of upward trending starts levels. Nevertheless, year-to-date the number of rows is coming close to matching the number of single-detached starts. While not an exact substitute for single-detached homes, rows are a viable alternative for households shopping on price-point as they are the most affordable dwelling type in the market, as well as relatively spacious," said Anne-Marie Shaker, CMHC's Senior Market Analyst for Ottawa.

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.

In Ottawa, the monthly SAAR measure was 4,044 in November, down from 6,876 in October, primarily due to a sharp decline in apartment starts.

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.

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To view the graph and tables associated with this release, please visit the following link: http://media3.marketwire.com/docs/1079382E.pdf

Contact Information

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