Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

October 11, 2016 08:15 ET

September 2016 Housing Starts in Oshawa

TORONTO, ONTARIO--(Marketwired - Oct. 11, 2016) - Housing starts in the Oshawa Census Metropolitan Area (CMA) trended lower at 2,565 in September 2016 compared to 2,734 in August 2016 according to Canada Mortgage and Housing Corporation (CMHC).The trend is a six month moving average of the monthly seasonally adjusted annual rate (SAAR) of housing starts.

"Relatively lower priced homes in Oshawa compared to those in some neighbourhoods in Toronto continue to be a draw for many home buyers. However, as prices of single-detached homes in the area continue to increase, more home buyers are choosing more affordable options such as townhomes, semi-detached homes and condominium apartments," said Andrew Scott, CMHC's Senior Market Analyst for the GTA.

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 edged lower to 2,120 units in September 2016 from 2,320 in August 2016. While ground-oriented homes registered some moderation, high-rise starts showcased the strength.

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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A graph and tables are available at the following link: http://media3.marketwire.com/docs/1072001e.pdf.

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