Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

October 08, 2014 08:15 ET

September 2014 Housing Starts in Barrie

TORONTO, ONTARIO--(Marketwired - Oct. 8, 2014) - Housing starts in the Barrie Census Metropolitan Area (CMA) were trending at 903 units in September, up from 795 in August 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.

"Although there were fewer starts of single-detached homes in the City of Barrie, apartment starts were up significantly. Starts continue to perform well due to less choice in a brisk resale market and due to an improving employment picture. Also, lack of land in the city is encouraging the movement of single-detached home building to adjacent areas such as Innisfil and Springwater. Construction of other housing types is mostly concentrated in the City of Barrie," said Abdellah Massaoudi, CMHC's Market Analyst for Barrie.

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.

The monthly SAAR of housing starts was 1002 units in September, up from 729 in August.

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.

Follow CMHC on Twitter @CMHC_ca

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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Tables and a graph are available at the following address: http://media3.marketwire.com/docs/971914a.pdf

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