MONTREAL, QUEBEC--(Marketwired - Nov. 8, 2016) - Housing starts in the Gatineau area were trending at 1,977 units in October, compared to 1,668 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) of housing starts.
The housing starts trend in the Gatineau area rose significantly in October. "This jump was attributable to the start of several large housing projects intended for the condominium and rental housing markets. With the rise in housing demand recorded since the beginning of the year, the inventory of new unsold homes has decreased and the need for new units is more significant. This allowed some larger projects to get underway," said Geneviève Lapointe, CMHC's Senior Market Analyst for the Gatineau area.
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, analyzing 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 stand-alone monthly SAAR was 3,827 units in October, up from 2,120 in September.
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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