OTTAWA, ONT. -- The seasonally adjusted annual rate 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 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.

                             Housing Starts, Actual and SAAR(i)

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                                             Actual                   SAAR

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                                         October     October   September     October

                                            2010        2011        2011        2011

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                                         Revised Preliminary     Revised Preliminary

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        Canada, all areas                 15,759      18,360     208,800     207,600

          Canada, rural areas              2,211       1,972      20,400      23,100

          Canada, urban centres(ii)       13,548      16,388     188,400     184,500

            Canada, singles, urban

             centres                       5,727       5,472      66,900      60,900

            Canada, multiples, urban

             centres                       7,821      10,916     121,500     123,600

            Atlantic region, urban

             centres                         956         638      13,100       7,400

            Quebec, urban centres          4,187       3,488      52,500      37,400

            Ontario, urban centres         3,855       6,286      63,100      70,500

            Prairie region, urban

             centres                       2,530       3,605      32,300      41,400

            British Columbia, urban

             centres                       2,020       2,371      27,400      27,800

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        Source: CMHC

 

 

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