OTTAWA - Canadian housing starts, fueled by huge high-rise-living project in the Toronto area, climbed 8.1% to a seasonally adjusted average of 224,900 units in August, according to the Canada Mortgage and Housing Corporation (CMHC).
“The increase in housing starts in August was the result of a few, large, multi-unit projects in the Greater Toronto area," said Mathieu Laberge, Deputy Chief Economist at CMHC’s Market Analysis Centre. "This increase is primarily a reflection of the high level of pre-sales in some of these large multi-unit projects in late 2010 and early 2011, which is in line with job gains at that time."
Urban starts account for more than 90% of Canadian housing starts. Quebec was the only Canadian province to experience a drop in urban housing starts, falling by 9.8%. Urban housing start gains included 47.5% in Atlantic Canada, 20.4% in Ontario,18.2% in British Columbia and 1.3% in the Prairies..
| Actual | SAAR | |||
|---|---|---|---|---|
| August | August | July | August | |
| 2011 | 2012 | 2012 | 2012 | |
| Revised | Preliminary | Revised | Preliminary | |
| Canada, all areas | 17,042 | 19,860 | 208,000 | 224,900 |
| Canada, rural areas | 2,104 | 2,135 | 21,200 | 19,000 |
| Canada, urban centres** | 14,938 | 17,725 | 186,800 | 205,900 |
| Canada, singles, urban centres | 6,359 | 6,015 | 64,200 | 64,300 |
| Canada, multiples, urban centres | 8,579 | 11,710 | 122,600 | 141,600 |
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| Atlantic region, urban centres | 795 | 1,112 | 8,000 | 11,800 |
| Quebec, urban centres | 2,707 | 2,807 | 44,000 | 39,700 |
| Ontario, urban centres | 5,949 | 7,744 | 72,200 | 86,900 |
| Prairie region, urban centres | 3,430 | 3,582 | 38,400 | 38,900 |
| British Columbia, urban centres | 2,057 | 2,480 | 24,200 | 28,600 |
Source: CMHC
*Seasonally adjusted annual rates.
**Urban centres with a population of 10,000 and over.
Detailed data available upon request.
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