Privacy  
CanEquity Mortgage Canada
Canadian mortgage rates,
mortgage calculator & news.

Canadian Mortgage News

October 2005 National News Archive

 

Related Links:
National Archive
2005 Archive
January 2005
February 2005
March 2005
April 2005
May 2005
June 2005
July 2005
August 2005
September 2005
October 2005
November 2005
December 2005


CanEquity Mortgage News RSS 2.0 Feed

CanEquity Mortgage News Atom Feed

About RSS and Atom Feeds

Portable Document Format Printable Version Page d'accueil franšais

Housing Starts Up Sharply

OTTAWA, Ontario, October 11, 2005 — The seasonally adjusted annual rate1 of housing starts was 230,500 units in September, up from 206,200 units in August, according to Canada Mortgage and Housing Corporation (CMHC).

"Housing starts across Canada remain strong and are on track with our expectations for the year," said Bob Dugan, Chief Economist at CMHC's Market Analysis Centre. "Low mortgage rates and increasing full-time employment in recent years are continuing to fuel high levels of housing starts in 2005."

The seasonally adjusted annual rate of urban starts rose 13.8 per cent to 199,800 units in September, due to strong increases in both multiple and single starts. Multiple starts rose 17.8 per cent to 103,400 units, while single starts were up 9.9 per cent to 96,400 units in September compared to August. The stronger performance of multiple starts compared to single starts is the result of rising house prices which can shift demand toward less expensive multi-family homes. Multiple starts are poised to outnumber single starts in 2005 for the first time since 1982.

Urban housing starts were up across all regions except for the Atlantic in September. Housing starts were up 19.8 per cent to 45,400 units in the Prairies, 17.9 per cent to 45,400 units in Quebec, 12.7 per cent to 65,500 units in Ontario, and 11.4 per cent to 35,100 units in British Columbia. In the Atlantic region, the seasonally adjusted annual rate of urban starts fell 11.6 per cent to 8,400 units.

Rural starts in September were estimated at a seasonally adjusted annual rate of 30,700 units.

For the first nine months of 2005, actual urban starts were 4.7 per cent lower than in the same period in 2004. Year-to-date single starts decreased 10.1 per cent, while multiple starts increased 1.1 per cent compared to the same period last year.

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
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:

Ted Tsiakopoulos
CMHC
(416) 218-3407
ttsiakop@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

Housing Starts in Canada - All Areas

Housing Starts, Actual and SAAR*

August 2005
Final
September 2005
Preliminary
Actual
SAAR
Actual
SAAR
Canada, all areas
18,692
206,200
20,613
230,500
Canada, rural areas
2,924
30,700
2,917
30,700
Canada, urban centres**
15,768
175,500
17,696
199,800
Canada, singles, urban centres
7,759
87,700
8,640
96,400
Canada, multiples, urban centres
8,009
87,800
9,056
103,400
Atlantic region, urban centres
971
9,500
707
8,400
Quebec, urban centres
2,832
38,500
3,822
45,400
Ontario, urban centres
5,735
58,100
5,759
65,500
Prairie region, urban centres
3,564
37,900
4,178
45,400
British Columbia, urban centres
2,666
31,500
3,230
35,100

Source: CMHC

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

News source: Canada Mortgage and Housing Corporation (CMHC)

 

Top of page