Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

March 08, 2012 08:15 ET

Quebec Housing Starts in February

MONTRÉAL, QUÉBEC--(Marketwire - March 8, 2012) - According to the results of the latest monthly survey conducted by Canada Mortgage and Housing Corporation (CMHC), residential construction increased by 13 per cent this past month in Quebec's centres with 10,000 or more inhabitants. In all, 1,939 dwellings were started in February 2012, compared to 1,717 a year earlier. As well, the seasonally adjusted annual rate of starts for this same month (42,100) was higher than for the month of January (28,100).

The increase in residential construction this past month was attributable to the multiple-unit (semi-detached, row and apartment) housing segment, as single-detached home building remained relatively stable.

In the multi-unit housing category, an increase of 19 per cent was registered this past February. In addition, the seasonally adjusted annual rate of starts for February (31,500) rose considerably over January (18,500). Regionally, a gain of nearly 30 per cent was observed in the Montréal census metropolitan area (CMA). As well, the February survey revealed that the hike resulted from increases in condominium construction. "Given the particularly slow pace noted in January, activity had been expected to pick up. However, we still anticipate that total starts in 2012 will be lower than the level recorded in 2011," explained Kevin Hughes, Senior Economist at CMHC for Quebec.

Still according to the survey results, single-detached housing starts remained relatively unchanged from the same month in 2011. The 452 new units enumerated in this category in February made for a 2-per-cent decrease from February 2011. The seasonally adjusted annual rate of starts for February (10,600) was slightly higher than for January (9,600). Regionally, the results were mixed (see table).

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable housing solutions. 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 informed decisions. For more information, visit www.cmhc.ca or call 1-800-668-2642.

Preliminary Results - Monthly Starts Survey - Province of Quebec
(centres with 10,000+ inhab.)
February
Singles Multiples Total
2011 2012 % 2011 2012 % 2011 2012 %
Centres with 100,000+ inhab.
GATINEAU 29 41 41 175 184 5 204 225 10
MONTRÉAL 284 235 -17 678 872 29 962 1,107 15
QUÉBEC 54 44 -19 201 188 -6 255 232 -9
SAGUENAY 13 3 -77 0 12 *** 13 15 15
SHERBROOKE 6 17 *** 74 31 -58 80 48 -40
TROIS-RIVIÈRES 6 6 0 0 22 *** 6 28 ***
Subtotal (100,000+) 392 346 -12 1,128 1,309 16 1,520 1,655 9
Centers with 50,000 to 99,999 inhab.
DRUMMONDVILLE 4 8 *** 6 14 *** 10 22 ***
GRANBY 5 9 80 69 24 -65 74 33 -55
SAINT-HYACINTHE 0 7 *** 5 32 *** 5 39 ***
SHAWINIGAN 1 1 0 0 3 *** 1 4 ***
SAINT-JEAN-SUR-RICHELIEU 7 18 *** 0 4 *** 7 22 ***
Subtotal (50,000 to 99,999) 17 43 *** 80 77 -4 97 120 24
Quebec (estimate 10,000+) 463 452 -2 1,254 1,487 19 1,717 1,939 13
January to February
Singles Multiples Total
2011 2012 % 2011 2012 % 2011 2012 %
Centres with 100,000+ inhab.
GATINEAU 67 56 -16 273 211 -23 340 267 -21
MONTRÉAL 479 410 -14 1,662 1,654 0 2,141 2,064 -4
QUÉBEC 123 95 -23 701 264 -62 824 359 -56
SAGUENAY 61 9 -85 63 52 -17 124 61 -51
SHERBROOKE 37 57 54 157 116 -26 194 173 -11
TROIS-RIVIÈRES 15 17 13 54 120 *** 69 137 99
Subtotal (100,000+) 782 644 -18 2,910 2,417 -17 3,692 3,061 -17
Centers with 50,000 to 99,999 inhab.
DRUMMONDVILLE 38 34 -11 27 62 *** 65 96 48
GRANBY 10 21 *** 110 56 -49 120 77 -36
SAINT-HYACINTHE 3 14 *** 21 45 *** 24 59 ***
SHAWINIGAN 4 5 25 3 7 *** 7 12 71
SAINT-JEAN-SUR-RICHELIEU 28 33 18 3 10 *** 31 43 39
Subtotal (50,000 to 99,999) 83 107 29 164 180 10 247 287 16
Quebec (estimate 10,000+) 992 876 -12 3,241 2,775 -14 4,233 3,651 -14
*** Absolute value greater than 100%

Contact Information

  • Catherine Leger
    Communications
    514-283-7972