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

Canadian Mortgage News

April 2009 National News Archive

 

Related Links:
National Archive
2009 Archive
January 2009
February 2009
March 2009
April 2009
May 2009
June 2009
July 2009
August 2009
September 2009
October 2009
November 2009
December 2009


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 Move up in March

OTTAWA, Ontario, April 08, 2009 — The seasonally adjusted annual rate1 of housing starts increased to 154,700 units in March from 136,100 units in February, according to Canada Mortgage and Housing Corporation (CMHC).

“Higher multiple starts in Ontario and Quebec were the main contributors to the rise in new construction activity in March,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “While the multiples segment experienced the largest increase, the overall boost in starts was broad based, encompassing the singles segment as well.”

The seasonally adjusted annual rate of urban starts increased 17 per cent to 127,900 units in March. Urban multiple starts increased 28.3 per cent to 81,500 units, while urban single starts moved up by 1.3 per cent to 46,400 units in March.

March’s seasonally adjusted annual rate of urban starts increased by 35 per cent in Ontario and by 23.3 per cent in Quebec. Urban starts declined by 17.3 per cent in British Columbia, by 7.9 per cent in Atlantic Canada, and by 7.5 per cent in the Prairies.

Rural starts were estimated at a seasonally adjusted annual rate of 26,800 units in March2.

New home construction is now at a more sustainable level after having been exceptionally strong over the past 7 years, exceeding 200,000 units per year.

As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable, and affordable homes — homes that will continue to create vibrant and healthy communities and cities across the country.

For more information, call 1-800-668-2642.

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.

2 CMHC estimates the level of rural starts for each of the three months of the quarter, at the beginning of each quarter. During the last month of the quarter, CMHC conducts the survey in rural areas and revises the estimate.

Information on this release:
Kristen Scheel
CMHC Media Relations
Tel.: 613-748-2799
Cell: 613-316-2949
kscheel@cmhc-schl.gc.ca
For regional starts information contact:
Atlantic provinces:
Matthew Gilmore
CMHC
902-426-4686
mgilmore@cmhc-schl.gc.ca

Ontario:
Ted Tsiakopoulos
CMHC
416-218-3407
ttsiakop@cmhc-schl.gc.ca

British Columbia:
Carol Frketich
CMHC
604-737-4067
cfrketic@cmhc-schl.gc.ca

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

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

Housing Starts in Canada — All Areas*

Housing Starts, Actual and SAAR*
Actual SAAR
March
2008
March
2009
February
2009
March
2009
Final Preliminary Final Preliminary
Canada, all areas 16,423 9,728 136,100 154,700
Canada, rural areas 807 1,099 26,800 26,800
Canada, urban centres** 15,616 8,629 109,300 127,900
Canada, singles, urban centres 4,749 2,566 45,800 46,400
Canada, multiples, urban centres 10,867 6,063 63,500 81,500
Atlantic region, urban centres 522 244 8,800 8,100
Quebec, urban centres 2,968 2,561 28,700 35,400
Ontario, urban centres 4,987 4,113 45,100 60,900
Prairie region, urban centres 4,768 967 14,600 13,500
British Columbia, urban centres 2,371 744 12,100 10,000

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

News source: Canada Mortgage and Housing Corporation (CMHC)

 

Top of page