Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

October 09, 2012 08:41 ET

September 2012 Housing Starts in Halifax

HALIFAX, NOVA SCOTIA--(Marketwire - Oct. 9, 2012) - Housing starts in Halifax, Census Metropolitan Area (CMA) were trending at 2,791 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 4,698 units in September, down from 5,159 in August.

"After three quarters of the year, total housing starts activity was mixed in Halifax as single starts remain higher than last year and multiple starts continue to track lower," said Matthew Gilmore, CMHC's Senior Market Analyst for Halifax. "Despite the year-to-date declines, apartment construction remains strong in historic terms," added Gilmore.

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, analyzing 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.

Single detached starts added 90 actual units in September 2012 compared to 105 units last year. Multiple starts totalled 321 actual units in September compared to 281 units reported in September of last year. Year-to-date total starts have reached 1,907 actual units with multiple starts at 1,165 units and single starts at 742 units. After three quarters of the year, total starts remain below the level recorded last year.

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.

(Ce document existe également en français)

A graph is available at the following address : http://file.marketwire.com/release/hfxeng.jpg

Preliminary Housing Start Data
September / 2011-2012
Halifax, CMA1 September 2011 September 2012
Actual
September - Single-Detached 105 90
September - Multiples 281 321
September - Total 386 411
January to September - Single-Detached 670 742
January to September - Multiples 1,522 1,165
January to September - Total 2,192 1,907
August 2012 September 2012
SAAR2
Total 5,159 4,698
Source: CMHC
1 Census Metropolitan Area
2 Seasonally Adjusted at Annual Rates
Detailed data available upon request.
Nova Scotia Preliminary Actual Housing Start Data
September / 2011-2012
Urban Centres Single-Detached Multiples Total
2011 2012 2011 2012 2011 2012
Urban Centres 100,000+
Halifax CMA 105 90 281 321 386 411
Cape Breton RGM 11 16 15 4 26 20
Total Urban Starts1 184 147 312 338 496 485
Nova Scotia Preliminary Actual Housing Start Data
January - September / 2011-2012
Urban Centres Single-Detached Multiples Total
2011 2012 2011 2012 2011 2012
Urban Centres 100,000+
Halifax CMA 670 742 1,522 1,165 2,192 1,907
Cape Breton RGM 85 125 84 119 169 244
Total Urban Starts1 1,168 1,310 1,787 1,408 2,955 2,718

1Urban starts include an estimate for the areas 10,000-49,999 for the first two months in a quarter and are subject to revision(s) after quarterly enumeration in the third and final month of the quarter.

Nova Scotia Preliminary Actual Housing Start Data
Third Quarter / 2011-2012
Urban Centres Single-Detached Multiples Total
2011 2012 2011 2012 2011 2012
Urban Centres 10,000 - 49,999
Chester MD 14 10 0 0 14 10
East Hants MD 27 31 11 14 38 45
Kentville CA 16 35 0 19 16 54
Kings Subd A SC 23 2 6 0 29 2
Lunenburg MD 7 26 0 0 7 26
New Glasgow 28 0 10 0 38 0
Queens RGM 9 5 0 2 9 7
Truro 44 38 14 6 58 44
West Hants MD 14 12 0 2 14 14
Yarmouth MD 6 6 2 0 8 6
Urban Centres 10,000 - 49,999 188 165 43 43 231 208
Nova Scotia Preliminary Actual Housing Start Data
January to September / 2011-2012
Urban Centres Single-Detached Multiples Total
2011 2012 2011 2012 2011 2012
Urban Centres 10,000 - 49,999
Chester MD 31 24 0 4 31 28
East Hants MD 63 58 33 34 96 92
Kentville CA 41 42 24 21 65 63
Kings Subd A SC 37 18 16 18 53 36
Lunenburg MD 39 92 0 2 39 94
New Glasgow 56 39 34 20 90 59
Queens RGM 12 17 0 2 12 19
Truro 85 89 72 22 157 111
West Hants MD 37 52 0 2 37 54
Yarmouth MD 12 12 2 0 14 12
Urban Centres 10,000 - 49,999 413 443 181 125 594 568

Contact Information

  • Market Analysis Contact:
    Matthew Gilmore
    902-426-4686
    Cell: 902-499-4382
    mgilmore@cmhc.ca

    Media Contact:
    Patricia Montreuil
    506-851-2229
    Cell: 506-866-8047
    pmontreu@cmhc.ca