TORONTO, ONTARIO--(Marketwired - Oct. 11, 2016) - Housing starts in the Kingston Census Metropolitan Area (CMA) were trending at 417 units in September compared to 458 units 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.
"The trend in housing starts in Kingston decreased from the previous month due to a drop in the trend for single-detached and row home starts," said Aris Gianneskis, CMHC's Market Analyst for Kingston. "On a year to date basis, total starts are down compared to the previous year due to the lack of new apartment construction. Builders are working out the final details on some apartment projects before beginning construction."
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 standalone monthly SAAR was 214 units in September, down from 371 in August, due to fewer townhomes being built.
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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