Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

October 11, 2016 08:15 ET

September 2016 Housing Start in St. John's

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwired - Oct. 11, 2016) - Housing starts in St. John's, Census Metropolitan Area (CMA) were trending at 837 units in September compared to 751 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) of housing starts.

September housing starts in the St. John's area were in line with where they were one year ago. "The housing starts trend has remained fairly steady over the past year, although starts of multiples are down slightly year-to-date" said Chris Janes, Senior Market Analyst with CMHC's Atlantic Market Analysis Centre.

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 standalone monthly SAAR was 862 units in September compared to 1042 in August.

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

As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.

For more information, visit our website at www.cmhc.ca or follow us on Twitter, YouTube, LinkedIn and Facebook.

Additional data is available upon request.

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To view the graph and tables associated with this release, please visit the following link: http://media3.marketwire.com/docs/1072027a.pdf

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