Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

November 09, 2015 08:15 ET

October 2015 Housing Starts in Brantford CMA

TORONTO, ONTARIO--(Marketwired - Nov. 9, 2015) - Housing starts in Brantford, Census Metropolitan Area (CMA) were trending at 880 units in October compared to 896 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 was relatively unchanged in October compared to the previous month. Similar to the previous month, the trend in townhouse starts was up in October, mostly due to strong demand coming from first-time buyers who are more price sensitive than other buyers," said Abdul Kargbo, CMHC's Senior Market Analyst for the Hamilton and Brantford CMAs. "New townhouses are generally more affordable than new single-detached dwellings. The shift in demand towards multi-unit housing helps explain why the trend in single-detached housing starts has been decreasing in recent months."

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 593 units in October, down from 687 units in September. This month's decline in the SAAR measure was primarily due to fewer single-detached housing starts compared to the previous month.

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.

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.

(Ce document existe également en français)

Tables and a graph are available at the following address: http://media3.marketwire.com/docs/1031823a.pdf

Contact Information