Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

October 11, 2016 08:15 ET

September 2016 Housing Starts in Quebec

MONTREAL, QUEBEC--(Marketwired - Oct. 11, 2016) - Housing starts in Quebec were trending at 32,604 units in September, compared to 30,698 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.

"In September, the trend of housing starts in Quebec jumped due to an increase in the multi-unit market segment. Several projects arrived simultaneously at the start phase, and we thus expect that the rate will decrease next month. That said, given population aging, we should expect an increase in apartment supply in coming years," said Kevin Hughes, Regional Economist at CMHC.

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.

The stand-alone monthly SAAR was 41,198 units in September, up from 30,917 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/1071916e_TABLE.pdf

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