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Housing Starts Up more than 12 Per Cent in October

OTTAWA, Ontario, November 8, 2001 — The seasonally adjusted annual rate* of housing starts in Canada increased 12.7 per cent in October to 173,500 units compared with 154,000 units in September, according to Canada Mortgage and Housing Corporation (CMHC).

Urban singles rose 7.2 per cent to an annual rate of 84,800 units from 79,100 in September, the highest annual rate for single starts since March 2000. Urban multiple starts bounced back 20.6 per cent to an annual rate of 67,200 units compared with 55,700. Estimated rural starts climbed to a seasonally adjusted annual rate of 21,500 units.

"Urban starts rose in all regions with strong increases in the multiple starts segment in the Prairies, Atlantic and Quebec while Ontario posted a healthy gain in the single starts segment," said Philippe Le Goff, senior economist at CMHC's Market Analysis Centre. "Low inventories and low mortgage rates continue to fuel new residential construction."

"Actual urban housing starts since January are still 7.0 per cent higher than the same period in 2000, 117,215 units compared with 109,741 units. While the single detached market increased 4.0 per cent, the main source of strength this year remains the multiple market, up 11 per cent."

* Most starts figures in this release are seasonally adjusted annual rates (SAAR), that is, actual monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect an annual pace.

Information:

Philippe Le Goff
CMHC
(613) 748-2933
plegoff@cmhc-schl.gc.ca

Housing Starts
Actual and Seasonally Adjusted Annual Data



September 2001
Final
October 2001
Preliminary
Province Actual SAAR Actual SAAR
NEWFOUNDLAND 139 1,400 105 1,200
PRINCE EDWARD ISLAND 45 400 53 400
NOVA SCOTIA 176 1,800 156 2,300
NEW BRUNSWICK 274 2,400 306 5,500
QUEBEC 1,540 19,800 1,805 22,700
ONTARIO 5,885 64,700 6,154 68,900
MANITOBA 152 1,500 125 1,500
SASKATCHEWAN 170 2,000 317 3,500
ALBERTA 2,231 25,400 2,469 28,300
BRITISH COLUMBIA 1,487 15,400 1,529 17,700
TOTAL (+10,000 pop.) 12,099 134,800 13,019 152,000
OTHER AREA ESTIMATES
(Less than 10,000 pop.)
2,002 19,200 2,203 21,500
CANADA 14,101 154,000 15,222 173,500

Canadian housing starts for October 2001

News source: Canada Mortgage and Housing Corporation (CMHC)

 

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