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July 2002 National News Archive

 

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Housing Starts Remain Above the 200,000 Mark in June

OTTAWA, Ontario, July 8, 2002 — The seasonally adjusted annual rate* of housing starts in Canada slipped 0.6 per cent in June to 202,100 units from 203,300 units in May, according to Canada Mortgage and Housing Corporation (CMHC).

Urban singles declined 4.4 per cent to an annual rate of 102,500 units from 107,200 in May while urban multiple starts rose 5.0 per cent to an annual rate of 73,700 units from 70,200. Estimated rural starts remained at a seasonally adjusted annual rate of 25,900 units.

"New residential construction has shown tremendous momentum in the first half of 2002. It reflects a combination of factors which have prevailed since January: low mortgage rates, strong job creation, high consumer confidence, and low inventories of unoccupied units," said Lucia Su, Director of CMHC's Market Analysis Centre. "While all provinces have shown higher housing starts this year, relative to last year, Quebec, Ontario and Alberta have led the way."

Actual urban housing starts for January to June this year are 25.5 per cent higher than the same period last year (83,860 units compared with 66,802 units). The single-detached market increased 36.7 per cent while multiples increased 12.7 per cent.

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

Information on this release:

Lucia Su
CMHC (613) 748-2313
lsu@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:

Cameron Muir
CMHC
(604) 737-4144
cmuir@cmhc-schl.gc.ca

Housing Starts, Actual and SAAR*

 

May 2002
Final
June 2002
Preliminary
Province Actual SAAR Actual SAAR
Newfoundland 245 2,300 209 1,700
Prince Edward Island 108 1,100 45 400
Nova Scotia 361 3,400 449 3,300
New Brunswick 249 2,300 371 2,900
Quebec 3,772 30,700 3,442 32,000
Ontario 8,085 82,300 7,175 76,900
Manitoba 215 2,300 231 2,100
Saskatchewan 214 1,700 184 1,600
Alberta 3,149 32,000 3,373 33,900
British Columbia 1,971 19,300 2,157 21,400
Total (+10,000 pop.) 18,369 177,400 17,636 176,200
Other Area Estimates
(Less than 10,000 pop.)
2,552 25,900 2,825 25,900
Canada 20,921 203,300 20,461 202,100

Housing Starts in Canada

Source: CMHC
* Seasonally adjusted annual rates

News source: Canada Mortgage and Housing Corporation (CMHC)

 

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