Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

November 08, 2016 08:15 ET

October 2016 Housing Starts in Kingston

TORONTO, ONTARIO--(Marketwired - Nov. 8, 2016) - Housing starts in the Kingston Census Metropolitan Area (CMA) were trending at 438 units in October compared to 419 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) of housing starts.

"The trend in housing starts in Kingston increased slightly from the previous month due to a rise in the trend for single-detached and row home starts," said Aris Gianneskis, CMHC's Market Analyst for Kingston. "Very few apartment starts has resulted in fewer total starts on a year to date basis. However, some projects are set to start, pending final permit approval."

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 607 units in October, up from 223 in September, primarily due to more single-detached and townhomes being started.

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 table associated with this release, please visit the following link:
http://media3.marketwire.com/docs/1075541e.pdf

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