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Housing Starts Bounce Back in November

OTTAWA, Ontario, December 8, 2004 — The seasonally adjusted annual rate1 of housing starts was 238,200 in November, up from 225,000 in October, according to Canada Mortgage and Housing Corporation (CMHC).

"Residential construction activity remained strong in November with housing starts coming in above the 200,000 level for an eighteenth consecutive month. New construction continues to respond to sustained demand for housing which is the result of continued strength in the Canadian economy," said Bob Dugan, Chief Economist at CMHC's Market Analysis Centre. "Housing starts remain on track to reach a 17-year high in 2004."

November housing starts in Canada's urban centres increased 6.7 per cent to a seasonally adjusted annual rate of 209,700 units. Urban single detached starts fell by 2.8 per cent to 99,300 units in November while the volatile urban multiple starts increased 17.1 per cent to 110,400.

Urban housing starts in November increased in every region except Ontario and the Atlantic where the seasonally adjusted annual rate of starts decreased 2.9 per cent and 11.0 per cent, respectively. Urban housing starts in November increased in British Columbia by 32.0 per cent, in the Prairie region by 6.1 per cent and in Quebec by 13.2 per cent.

The estimated number of seasonally adjusted annualized starts in Canada's rural areas was 28,500 units.

For the first eleven months of this year, actual urban starts increased 5.9 per cent compared with the same period last year. Single starts rose 3.5 per cent and multiple starts are up 8.6 per cent.

1. All starts figures in this release, other than actual starts, are seasonally adjusted annual rates (SAAR)-that is, monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels.

Information on this release:

Bob Dugan
CMHC
(613) 748-4009
E-mail: bdugan@cmhc-schl.gc.ca

For regional starts information contact:

Atlantic provinces: Alex MacDonald
CMHC
(902) 426-8964
amacdona@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: Vinay Bhardwaj
CMHC
(403) 515-3004
vbhardwa@cmhc-schl.gc.ca
British Columbia: Carol Frketich
CMHC
(604) 737-4067
cfrketic@cmhc-schl.gc.ca

Canadian Housing Starts Chart November 2004

Housing Starts, Actual and SAAR*

October 2004
Final
November 2004
Preliminary
Actual SAAR Actual SAAR
Canada, all areas
21,171 225,000 21,131 238,200
Canada, rural areas
3,133 28,500 2,557 28,500
Canada, urban centres**
18,038 196,500 18,574 209,700
Canada, singles, urban centres
9,092 102,200 8,326 99,300
Canada, multiples, urban centres
8,946 94,300 10,248 110,400
Atlantic region, urban centres
711 8,200 687 7,300
Quebec, urban centres
3,966 44,800 4,640 50,700
Ontario, urban centres
7,575 78,700 6,732 76,400
Prairie region, urban centres
3,625 39,500 3,649 41,900
British Columbia, urban centres
2,161 25,300 2,866 33,400

Source: CMHC

*Seasonally adjusted annual rates
** Urban centres with a population of 10,000 persons and over.
Detailed data available upon request.