Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

December 08, 2010 08:15 ET

Ottawa Starts Led by Condominium Apartments in November

OTTAWA, ONTARIO--(Marketwire - Dec. 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 928 units in November, an increase of 39 per cent from a year ago. Year-to-date starts are up 18 per cent for the first eleven months of this year compared to the same period one year ago.

Multiple-family homes, most notably condominiums, continue to be the main driver of new construction activity, representing almost three-quarters of new starts in the region. "There were 347 condominium starts in November, which is the second highest monthly number of apartment units built in Ottawa since 2001," said Sandra Pérez Torres, Senior Market Analyst at CMHC. "These starts boosted the year-to-date activity in this sector to its highest level in the last ten years," added Pérez Torres.

"Continued full-time steady employment along with record average weekly earnings levels propped up demand for all housing types, especially townhomes and apartments," concluded Pérez Torres.

To view "Ottawa Housing Starts 2008-2010" graph, please visit the following link:

http://media3.marketwire.com/docs/owacma1.pdf  

One-third of total starts activity was located in downtown Ottawa, of which 96 per cent represented condominiums. Along with downtown, Gloucester and Nepean also had the largest volume of townhome and semi-detached starts. New single construction was strong in the areas of Cumberland, Nepean, Goulbourn, Gloucester, and Kanata even though the first three areas saw decreased activity relative to one year ago. The Old City of Ottawa, Kanata and Clarence-Rockland posted the largest percentage increases and together accounted for 60 per cent of housing starts in November.

To view the "Housing Starts by Area, November 2009 and November 2010" graph, please visit the following link:

http://media3.marketwire.com/docs/owacma2.pdf

With a strong showing in the second half of the year, downtown Ottawa is only slightly behind Nepean for the largest quantity of new housing starts on a year-to-date basis. All areas in the Ottawa CMA have experienced growth in starts of over 30 per cent, with the exception of Cumberland, Nepean and Gloucester, who led the way last year; however, they are still maintaining single digit growth this year. The outer suburbs of Osgoode, Rideau, Goulbourn and the combined areas of West-Carleton, Clarence-Rockland and Russell maintained their activity in the single home market, with the remaining inner suburbs focusing on multiple housing.

To view the "Housing Starts by Area 2009 and 2010 YTD" graph, please visit the following link:

http://media3.marketwire.com/docs/owacma3.pdf

Ottawa Housing Starts  
    Nov-09   Nov-10   %
Change
    2009
(YTD)
  2010
(YTD)
  %
Change
 
Single-Detached   293   268   -8.5 %   2,233   2,053   -8.1 %
Multi-Family   375   660   76.0 %   2,760   3,851   39.5 %
Semi-Detached   56   56   0.0 %   275   328   19.3 %
Row House   255   111   -56.5 %   1,651   1,800   9.0 %
Apartment   64   493   670.3 %   834   1,723   106.6 %
Total   668   928   38.9 %   4,993   5,904   18.2 %

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.

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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