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September Housing Starts

OTTAWA, Ontario, October 08, 2009 — The seasonally adjusted annual rate1 of housing starts reached 150,100 units in September compared to 157,300 units in August, according to Canada Mortgage and Housing Corporation (CMHC).

“The decline in housing starts in September is attributable to the volatile multiple starts segment,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “However, starts of single homes, which are a barometer of the trend in housing markets, climbed in September to reach their highest level so far this year. The rebound in existing home sales and the upward trend in new home construction, support our expectation that housing demand has strengthened and that housing starts will be stronger in the second half of 2009.”

The seasonally adjusted annual rate of urban starts declined by 5.2 per cent to 131,500 units in September. Urban multiple starts decreased by 21.4 per cent to 62,700 units, while urban single starts moved up 16.8 per cent to 68,800 units in September.

September’s seasonally adjusted annual rate of urban starts increased by 11.8 per cent in Ontario, decreased by 20.2 per cent in Quebec, by 18.1 per cent in British Columbia, and by 4.7 per cent in the Atlantic, and was unchanged in the Prairies.

Rural starts were estimated at a seasonally adjusted annual rate of 18,600 units in September2.

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. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions.

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:

Charles Sauriol
CMHC
Media Relations
613-748-2799
csauriol@cmhc-schl.gc.ca

For regional starts information contact:

Atlantic provinces:
Alex MacDonald
CMHC
902-426-8964
amacdona@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:
Lai Sing Louie
CMHC
403-515-2991
llouie@cmhc-schl.gc.ca

September 2009 Housing Starts

Housing Starts, Actual and SAAR*
Actual SAAR
September
2008
September
2009
August
2009
September
2009
Final Preliminary Final Preliminary
Canada, all areas 20,179 14,801 157,300 150,100
Canada, rural areas 2,518 1,777 18,600 18,600
Canada, urban centres** 17,661 13,024 138,700 131,500
Canada, singles, urban centres 6,309 6,741 58,900 68,800
Canada, multiples, urban centres 11,352 6,283 79,800 62,700
Atlantic region, urban centres 1,030 970 8,500 8,100
Quebec, urban centres 3,575 3,169 43,600 34,800
Ontario, urban centres 7,305 4,798 43,200 48,300
Prairie region, urban centres 2,625 2,620 26,300 26,300
British Columbia, urban centres 3,126 1,467 17,100 14,000

News source: Canada Mortgage and Housing Corporation (CMHC)

 

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