Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

October 09, 2012 08:15 ET

September 2012 Housing Starts in Guelph

TORONTO, ONTARIO--(Marketwire - Oct. 9, 2012) - Housing starts in the Guelph Census Metropolitan Area (CMA) were trending at 1,000 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)(1) of housing starts. The standalone monthly SAAR was 2,320 units in September, up from 570 in August.

"Townhouse and apartment construction has been boosted by demand from first-time buyers, immigrants and downsizing baby boomers. With limited choice in the resale home market, price conscious consumers have been purchasing new townhouses and condominium apartments, said Erica McLerie, CMHC's Senior Market Analyst for Guelph.

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.

Construction began on 190 homes in September, up from the 60 units started last year. September numbers were pushed higher by the start of a 130-unit condominium apartment building. Builders started 27 single-detached homes in September, up from the 20 homes started a year ago. Townhouse starts increased to 25 units from the 22 units started in September 2011. Due to increased activity for all housing types, especially townhouse and apartment construction, starts in the first three quarters of 2012, have outpaced the starts in the same period of 2011.

Preliminary Housing Starts data is also available in English and French at the following link: Preliminary Housing Starts Tables

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.

(1) All starts figures in this release, other than actual starts and the trend estimate, are seasonally adjusted annual rates (SAAR) - that is, monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels. By removing seasonal ups and downs, seasonal adjustment allows for a comparison from one season to the next and from one month to the next. Reporting monthly figures at annual rates indicates the annual level of starts that would be obtained if the monthly pace was maintained for 12 months. This facilitates comparison of the current pace of activity to annual forecasts as well as to historical annual levels.

Additional data is available upon request.

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Preliminary Housing Start Data
September / 2011-2012
Guelph, CMA(1) September 2011 September 2012
Actual
Sept - Single-Detached 20 27
Sept - Multiples 40 163
Sept - Total 60 190
Jan to Sept - Single-Detached 208 212
Jan to Sept - Multiples 320 423
Jan to Sept - Total 528 635
August 2012 September 2012
SAAR(2)
Total 570 2,320

Source: CMHC

(1) Census Metropolitan Area

(2) Seasonally Adjusted at Annual Rates

Detailed data available upon request.

Guelph Preliminary Actual Housing Start Data by Type
September / 2011-2012
Guelph, CMA(1) Single Semi Row Apt
Total
2011 2012 2011 2012 2011 2012 2011 2012 2011 2012
Sub-Markets
Guelph City 18 24 6 0 22 25 12 138 58 187
Guelph-Eramosa Township 2 0 0 0 0 0 0 0 2 0
Puslinch Township NA 3 NA 0 NA 0 NA 0 NA 0
Total Guelph CMA Starts 20 27 6 0 22 25 12 138 60 190
Guelph Preliminary Actual Housing Start Data by Type
Year-to-Date / 2011-2012
Guelph, CMA(1) Single Semi Row Apt
Total
2011 2012 2011 2012 2011 2012 2011 2012 2011 2012
Sub-Markets
Guelph City 194 183 42 44 112 185 166 194 514 606
Guelph-Eramosa Township 14 8 0 0 0 0 0 0 14 8
Puslinch Township NA 21 NA 0 NA 0 NA 0 NA 21
Total Guelph CMA Starts 208 212 42 44 112 185 166 194 528 635

(1) Census Metropolitan Area

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