Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

October 08, 2010 08:15 ET

Ottawa Apartment Starts Lead the Way in September

OTTAWA, ONTARIO--(Marketwire - Oct. 8, 2010) - According to the latest preliminary data released by Canada Mortgage and Housing Corporation (CMHC), total housing starts in the Ottawa Census Metropolitan Area (CMA) reached 463 units in September, representing a 2.5 per cent decrease from the same period one year ago.

Even though the total number of starts compared to last year was relatively flat, the composition of new homes looks much different in September compared to the same period one year ago. "Fifty percent of housing starts were of the single home variety last September, whereas this year, that figure is twenty-five percent," said Sandra Pérez Torres, CMHC's Senior Market Analyst for Ottawa. "As has been consistent throughout the year, the shift in new homes is moving from single-unit to the multiple family segment," concluded Pérez Torres.

To view the first chart associated with this release, please visit the following link: http://media3.marketwire.com/docs/ott1rb.jpg.

Condominium apartment building led the way, with the Old City of Ottawa and Gloucester the volume leaders in this category for the month. These two regions accounted for 92% of apartment starts in September. New singles were spread out throughout the city, led by the combined regions of West-Carleton, Clarence-Rockland and Russell with 33 and Cumberland with 22 units. The remaining regions had less activity as Kanata had a reduced amount of multiple unit activity, and Goulbourn and Nepean saw declines primarily in the singles market.

To view the second chart associated with this release, please visit the following link: http://media3.marketwire.com/docs/ott2rb.jpg.

For a second consecutive month, all sub-markets continue to outpace last year on a year-to-date basis from January to September. Goulbourn, Osgoode and the combined areas of West-Carleton, Clarence-Rockland and Russell have performed consistently throughout the year, with year-to-date growth at 61, 58 and 46 per cent respectively. Rideau Township and the Old City of Ottawa also continue to perform well, with Rideau construction focusing only on single homes and Old Ottawa continuing to make its mark in the condominum market.

To view the third chart associated with this release, please visit the following link: http://media3.marketwire.com/docs/ott3rb.jpg.

Ottawa Housing Starts

  Sep-09 Sep-10 % Change 2009 (YTD) 2010 (YTD) % Change
Single-Detached 234 117 -50.0% 1,641 1,623 -1.1%
Multi-Family 241 346 43.6% 1,944 2,939 51.2%
Semi-Detached 24 24 0.0% 175 246 40.6%
Row House 189 147 -22.2% 1,174 1,488 26.7%
Apartment 28 175 525.0% 595 1,205 102.5%
Total 475 463 -2.5% 3,585 4,562 27.3%

As Canada's national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. 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 vital decisions. For more information, visit www.cmhc.ca or call 1-800-668-2642.

For housing forecasts that will inform your business strategy in 2011, attend your local housing market outlook session this November. Visit www.cmhc.ca/conferenceregistration for complete details.

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Contact Information

  • Ottawa (in English or French):
    Sandra Perez-Torres
    Senior Market Analyst
    613-748-5120
    sperezto@cmhc.ca
    or
    Ontario:
    Ted Tsiakopoulos
    Regional Economist
    416-218-3407
    ttsiakop@cmhc.ca
    or
    Canada:
    Charles Sauriol
    Senior Media Relations Officer
    613-748-2799
    csauriol@cmhc.ca