Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

November 10, 2014 13:50 ET

October 2014 Housing Starts in Kingston

TORONTO, ONTARIO--(Marketwired - Nov. 10, 2014) - Housing starts in the Kingston Census Metropolitan Area (CMA) were trending at 788 units in October compared to 765 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.

"Kingston's new home market posted another healthy month of activity. An increase in the total number of seasonally adjusted housing starts from last month was due to more row and semi-detached starts. Continuing the upward trend experienced recently, the year to date number of townhome and semi-detached starts were almost equal to the number recorded for the full last year. The demand for high-density ground oriented housing is supported by the rising trend in full time employment for the 25-44 age groups," said Aris Gianneskis, CMHC Market Analyst.

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 406 units in October up from 374 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.

[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 table and a graph are available at the following address: http://media3.marketwire.com/docs/977957e.pdf

Contact Information

  • Information on this release:
    Aris Gianneskis, Market Analyst
    416-250-3228
    agiannes@cmhc.ca

    Media Contact:
    Beth Bailey, Consultant, Communications and Marketing
    416-218-3355
    Cell: 416-988-4615
    bbailey@cmhc.ca