Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

November 08, 2011 08:15 ET

Quebec Housing Starts in October

MONTRÉAL, QUÉBEC--(Marketwire - Nov. 8, 2011) - According to the results of the latest monthly survey conducted by Canada Mortgage and Housing Corporation (CMHC), residential construction decreased this past month in Quebec's centres with 10,000 or more inhabitants. In all, 3,488 dwellings were started in October 2011, compared to 4,187 a year earlier. As well, the seasonally adjusted annual rate of starts for this same month (37,400) was lower than for the month of September (52,500).

The result for October brought year-to-date urban starts to 33,908 units, for a decrease of 7 per cent from the first ten months of 2010. This decline was due to the single-detached home segment (-17 per cent), as multiple-unit housing starts barely declined (-2 per cent).

"The rate of activity in the multi-family segment is back to a more sustainable level. As for the year-to-date total, it is in line with the forecast we published a year ago," said Kevin Hughes, Senior Economist at CMHC for Quebec.

A decrease in activity was registered in the multiple-unit (semi-detached, row and apartment) housing segment, where starts declined from 3,144 units in October 2010 to 2,695 units a year later, for a 14 per cent drop. Moreover, the seasonally adjusted annual rate was 27,600 for October, compared to 41,300 for the previous month. The result for October was attributable to lower activity in the Québec market.

Single-detached home starts fell by 24 per cent in October 2011 from the same month in 2010. As well, the seasonally adjusted annual rate was 9,800 for October, down from 11,200 for September. The result for October is explained by a significant drop in the Montréal market.

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 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, call 1-800-668-2642.

Preliminary Results - Monthly Starts Survey - Province of Quebec

(centres with 10,000+ inhab.)

October
Singles Multiples Total
2010 2011 % 2010 2011 % 2010 2011 %
Centres with 100,000+ inhab.
GATINEAU 60 79 32 212 202 -5 272 281 3
MONTRÉAL 486 367 -24 1,638 1,733 6 2,124 2,100 -1
QUÉBEC 93 93 0 419 292 -30 512 385 -25
SAGUENAY 35 24 -31 54 54 0 89 78 -12
SHERBROOKE 35 58 66 30 50 67 65 108 66
TROIS-RIVIÈRES 36 25 -31 122 90 -26 158 115 -27
Subtotal (100,000+) 745 646 -13 2,475 2,421 -2 3,220 3,067 -5
Centers with 50,000 to 99,999 inhab.
DRUMMONDVILLE 28 23 -18 20 10 -50 48 33 -31
GRANBY 20 17 -15 71 43 -39 91 60 -34
SAINT-HYACINTHE 10 7 -30 121 8 -93 131 15 -89
SHAWINIGAN 11 9 -18 14 9 -36 25 18 -28
SAINT-JEAN-SUR-RICHELIEU 18 16 -11 66 12 -82 84 28 -67
Subtotal (50,000 to 99,999) 87 72 -17 292 82 -72 379 154 -59
Quebec (estimate 10,000+) 1,043 793 -24 3,144 2,695 -14 4,187 3,488 -17

January to October
Singles Multiples Total
2010 2011 % 2010 2011 % 2010 2011 %
Centres with 100,000+ inhab.
GATINEAU 785 668 -15 1,616 1,328 -18 2,401 1,996 -17
MONTRÉAL 4,988 3,897 -22 13,507 14,367 6 18,495 18,264 -1
QUÉBEC 1,549 1,157 -25 3,826 3,294 -14 5,375 4,451 -17
SAGUENAY 342 409 20 378 338 -11 720 747 4
SHERBROOKE 492 474 -4 956 831 -13 1,448 1,305 -10
TROIS-RIVIÈRES 298 256 -14 1,148 560 -51 1,446 816 -44
Subtotal (100,000+) 8,454 6,861 -19 21,431 20,718 -3 29,885 27,579 -8
Centers with 50,000 to 99,999 inhab.
DRUMMONDVILLE 358 288 -20 295 179 -39 653 467 -28
GRANBY 233 180 -23 524 370 -29 757 550 -27
SAINT-HYACINTHE 59 61 3 243 134 -45 302 195 -35
SHAWINIGAN 105 89 -15 42 67 60 147 156 6
SAINT-JEAN-SUR-RICHELIEU 231 210 -9 109 389 *** 340 599 76
Subtotal (50,000 to 99,999) 986 828 -16 1,213 1,139 -6 2,199 1,967 -11
Quebec (estimate 10,000+) 11,564 9,568 -17 24,908 24,340 -2 36,472 33,908 -7
*** Absolute value greater than 100%

Contact Information

  • Province
    Kevin Hughes
    Regional Economist
    514-283-4488
    E-mail: khughes@cmhc.ca

    Montreal
    Genevieve Lapointe
    Market Analyst
    514-496-8564
    E-mail: glapoint@cmhc.ca

    Trois-Rivieres (Mauricie)
    Marie-Elaine Denis
    Market Analyst
    418-649-8100
    E-mail: medenis@cmhc.ca

    Saguenay
    Sebastien Paquet-Poirier
    Market Analyst
    418-649-8102
    E-mail: spaquetp@cmhc.ca

    Sherbrooke (Estrie)
    Lydia Yakonowsky
    Market Analyst
    514-283-2203
    E-mail: lyakonow@cmhc.ca

    Gatineau (Outaouais, Abitibi)
    Francis Cortellino
    Senior Market Analyst
    514-283-8391
    E-mail: fcortell@cmhc.ca

    Quebec
    Elisabeth Koulouris
    Senior Market Analyst
    418-649-8098
    E-mail: ekoulour@cmhc.ca