CMHC: October 2011 Housing Starts
(firmenpresse) - OTTAWA, ONTARIO -- (Marketwire) -- 11/08/11 -- The seasonally adjusted annual rate(1) of housing starts was 207,600 units in October, according to Canada Mortgage and Housing Corporation (CMHC). This is down from 208,800 units in September 2011.
"Housing starts posted a slight decline in October due to a decrease in single-detached starts in urban centres," said Mathieu Laberge, Deputy Chief Economist at CMHC's Market Analysis Centre. "Urban multiple housing starts remained high in October, but overall housing starts are expected to moderate in line with demographic fundamentals."
The seasonally adjusted annual rate of urban starts decreased by 2.1 per cent to 184,500 units in October. Urban single starts decreased by 9.0 per cent in October to 60,900 units, while multiple urban starts were up by 1.7 per cent to 123,600 units.
October's seasonally adjusted annual rate of urban starts decreased by 43.5 per cent in the Atlantic region, and 28.8 per cent in Quebec, while urban starts increased by 1.5 per cent in British Columbia, by 11.7 per cent in Ontario, and by 28.2 per cent in the Prairie region.
Rural starts(2) were estimated at a seasonally adjusted annual rate of 23,100 units in October.
As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. 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 informed decisions.
For more information, visit or call 1-800-668-2642.
This release is also available on the CMHC Web site: cmhc.ca/Newsroom
(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. By removing seasonal ups and downs, seasonal adjustment makes it possible to highlight the fundamental trends of a series. Reporting monthly figures at annual rates indicates the annual level of starts that would be obtained if the monthly pace was maintained for 12 months. This facilitates comparison of the current pace of activity to annual forecasts as well as to historical annual levels.
(2) CMHC estimates the level of starts in centres with a population of less than 10,000 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 these centres and revises the estimate.
A graph of "Housing Starts in Canada-All Areas" is available at the following address:
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Contacts:
Charles Sauriol
CMHC Media Relations
(613) 748-2799
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Datum: 08.11.2011 - 13:15 Uhr
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News-ID 85084
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OTTAWA, ONTARIO
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National
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