Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

November 10, 2014 08:15 ET

October 2014 Housing Starts in Brantford CMA

TORONTO, ONTARIO--(Marketwired - Nov. 10, 2014) - Housing starts in Brantford, Census Metropolitan Area (CMA) were trending down at 415 units in October compared to 434 units in September, 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 trend in Brantford CMA total housing starts declined in October 2014, due to weaker single and semi-detached housing construction. However, single-detached housing starts remained strong at 200 units in the first ten months of 2014, slightly up 1.5 per cent from the same period in 2013. Move-up buyers coming from the more expensive neighbouring municipalities continue to support single-detached housing demand in Brantford," said Abdul Kargbo, CMHC's Senior Market Analyst for the Hamilton and Brantford CMAs.

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.

The standalone monthly SAAR was 201 units in October, down from 347 units in September.

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.

Follow CMHC on Twitter @CMHC_ca

Additional data is available upon request.

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(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.

Tables and a graph are available at the following address: http://media3.marketwire.com/docs/Brantford_ENG.pdf

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