OTTAWA - Canadian housing starts dipped 2.3% to 220,215 units on a seasonally adjusted average for September, but are still pacing well ahead of last year.

The Canada Mortgage and Housing Corporation said 17,606 single and multi-family homes were started throughout Canada, up 6.1% from September 2011. Total actural housing starts for the first nine months stand at 146,479 units vs. 127,338 last year, a 15% increase.

 

“The monthly decrease posted in September was mostly due to a decrease in urban multiples starts," said Mathieu Laberge, Deputy Chief Economist at the Canada Mortgage and Housing Corporation. "As expected, the number of multiples starts in Ontario, particularly in Toronto, reverted back to a level more in line with the average pace of activity over the last six months. Following a period of elevated housing starts activity due to strong volumes of multi-family unit pre-sales in 2010 and 2011, the pace of housing starts is expected to moderate.”

 

Preliminary Housing Start Data
September / 2011 – 2012
Canada September 2011 September 2012
Actual, all areas 18,670 19,750
Actual, rural areas 2,079 2,144
Actual, urban centres1

September — Single-Detached 6,263 6,159
September — Multiples 10,328 11,447
September — Total 16,591 17,606
January to Sept. — Single-Detached 49,497 50,468
January to September — Multiples 77,841 96,011
January to September — Total 127,338 146,479

August 2012 September 2012
SAAR2, all areas 225,328 220,215
SAAR, rural areas 15,210 16,484
SAAR, urban centres1

Single-Detached 68,575 67,643
Multiples 141,543 136,088
Total 210,118 203,731
Atlantic region, urban centres 12,499 15,036
Quebec, urban centres 41,950 42,515
Ontario, urban centres 86,189 70,486
Prairie region, urban centres 41,247 48,495
British Columbia, urban centres 28,233 27,199

Source: CMHC
1 Urban centres with a population of 10,000 and over.
2 Seasonally Adjusted at Annual Rates

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