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Housing Starts Decline In April

OTTAWA, Ontario, May 8, 2002 — The seasonally adjusted annual rate* of housing starts in Canada decreased 11.3 per cent in April to 184,500 units from a revised 208,000 units in March, according to Canada Mortgage and Housing Corporation (CMHC).

Urban singles declined 6.4 per cent to an annual rate of 96,600 units in April from 103,200 in March while urban multiple starts were down 17.7 per cent to an annual rate of 62,000 units from 75,300. Rural starts, estimated at a seasonally adjusted annual rate of 25,900 units in April, were down from a revised 29,500 units in March.

"The April decline in the seasonally adjusted annual rate was to be expected as it came on the heels of a very high and unsustainable rate in March, the second best month in over 10 years," said Michel Laurence, Chief Economist at CMHC's Market Analysis Centre. "Despite the decline, April's starts rate is still 14.9 per cent higher than a year ago and the trend in new home construction remains positive."

Actual urban housing starts for January to April this year are 25.2 per cent higher than the same period last year (47,855 units compared with 38,218 units). The single detached market increased 32.1 per cent while multiples increased 17.7 per cent.

Information on this release:

Michel Laurence
CMHC
(613) 748-2737
mlaurenc@cmhc-schl.gc.ca

For regional starts information contact:

Atlantic provinces: Ralph Freeze, CMHC, (902) 426-8964,
rfreeze@cmhc-schl.gc.ca

Quebec: Kevin Hughes, CMHC, (514) 283-4488,
khughes@cmhc-schl.gc.ca

Ontario: Alex Medow, CMHC, (416) 218-3344,
amedow@cmhc-schl.gc.ca

Prairie provinces: Richard Corriveau, CMHC, (403) 515-3005,
rcorrive@cmhc-schl.gc.ca

British Columbia: Carl Gomez, CMHC, (604) 737-4067,
cgomez@cmhc-schl.gc.ca

 
Housing Starts
Actual and Seasonally Adjusted Annual Data


March 2002
Final
April 2002
Preliminary
Province Actual SAAR Actual SAAR
Newfoundland 39 1,600 113 1,600
Prince Edward Island 15 700 40 500
Nova Scotia 98 2,400 204 2,900
New Brunswick 46 1,700 188 2,700
Quebec 2,293 30,900 3,952 31,000
Ontario 5,291 80,600 6,670 71,600
Manitoba 117 1,900 153 1,700
Saskatchewan 80 1,300 181 2,000
Alberta 2,585 39,500 2,669 30,600
British Columbia 1,300 17,900 1,149 14,000
Total (+10,000 pop.) 11,864 178,500 15,319 158,600
Other area estimates
(Less than 10,000 pop.)
1,018 29,500 2,513 25,900
Canada 12,882 208,000 17,832 184,500

Canadian Housing Starts Chart April 2002

* 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.

News source: Canada Mortgage and Housing Corporation (CMHC)

 

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