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Housing Starts Jump 17.3 % in January

OTTAWA, Ontario, February 8, 2002 — The seasonally adjusted annual rate* of housing starts in Canada rose 17.3 per cent in January to 204,300 units from 174,100 units in December, according to Canada Mortgage and Housing Corporation (CMHC).

Urban singles were up 4.0 per cent to an annual rate of 89,100 units from 85,700 in December while urban multiple starts jumped 39.4 per cent to an annual rate of 95,200 units from 68,300. Estimated rural starts slipped 0.5 per cent to a seasonally adjusted annual rate of 20,000 units.

"January's annual rate of housing starts posted the highest level since May 1990 due in part to unusually mild weather in central Canada," said Philippe Le Goff, senior economist at CMHC's Market Analysis Centre. "The building industry is responding to tight resale and rental markets in many metropolitan areas. Last month's rental starts were up favorably in Quebec, Ontario, Alberta, but, to a lesser extent, in British Columbia and Nova Scotia. Actual rental housing starts at 1,786 January were the highest since November 1993."

Actual total housing starts reached 12,382 units in January.

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
  DECEMBER 2001 FINAL JANUARY 2002 PRELIMINARY
PROVINCE ACTUAL SAAR ACTUAL SAAR
NEWFOUNDLAND 103 1,800 51 1,300
PRINCE EDWARD ISLAND 13 300 3 200
NOVA SCOTIA 253 4,200 310 4,000
NEW BRUNSWICK 191 3,000 63 1,100
QUEBEC 2,351 29,500 1,684 32,700
ONTARIO 5,675 69,800 6,026 93,500
MANITOBA 88 1,400 78 1,500
SASKATCHEWAN 114 1,800 131 2,100
ALBERTA 2,173 27,400 1,974 28,800
BRITISH COLUMBIA 1,043 14,800 1,310 19,100
TOTAL (+10,000 pop.) 12,004 154,000 11,630 184,300
OTHER AREA ESTIMATES (Less than 10,000 pop.) 1,681 20,100 752 20,000
CANADA 13,685 174,100 12,382 204,300

Canadian Housing Starts Chart January 2002

News source: Canada Mortgage and Housing Corporation (CMHC)

 

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