OTTAWA, July 11, 2016 — The trend measure of housing starts in Canada was 197,918 units in June compared to 190,302 in May, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
“Overall, June saw housing starts pick up pace in Canada, bolstered by apartment construction in Ontario – especially new condo construction in Toronto’s downtown core,” said Bob Dugan, CMHC Chief Economist. “However, elsewhere in the country, construction activity slowed as apartment construction eased in Quebec. Housing starts are also trending down in Alberta as a result of high inventories in the new and existing home markets of that province.”
CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of Canada’s housing market. In some situations analyzing only SAAR data can be misleading, as they are largely driven by the multi-unit segment of the market which can vary significantly from one month to the next.
The standalone monthly SAAR for all areas in Canada was 218,333 units in June, up from 186,709 units in May. The SAAR of urban starts increased by 18.1 per cent in June to 202,702 units. Multiple urban starts increased by 26.7 per cent to 142,819 units in June and the single-detached urban starts increased by 1.7 per cent to 59,883 units.
In June, the seasonally adjusted annual rate of urban starts increased in British Columbia, Ontario, and in the Prairies, but decreased in Atlantic Canada, and Québec.
Rural starts were estimated at a seasonally adjusted annual rate of 15,631 units.
Preliminary Housing Starts data is also available in English and French at the following link: Preliminary Housing Starts Tables
As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.
Information on This Release:
CMHC Media Relations
This release is also available at www.cmhc.ca.
Additional data is available upon request.
|May 2016||June 2016|
|Trend1, all areas||190,302||197,918|
|SAAR, all areas||186,709||218,333|
|SAAR, rural areas2||15,053||15,631|
|SAAR, urban centres3|
|Atlantic, urban centres||8,296||6,491|
|Quebec, urban centres||34,136||33,453|
|Ontario, urban centres||66,935||84,740|
|Prairies, urban centres||27,579||30,034|
|British Columbia, urban centres||34,710||47,984|
|Canada||June 2015||June 2016|
|Actual, all areas||18,655||20,372|
|Actual, rural areas||1,571||1,723|
|Actual, urban centres|
|June — Single-detached||5,895||6,289|
|June — Multiples||11,189||12,360|
|June — Total||17,084||18,649|
|January to June — Single-detached||25,587||26,464|
|January to June — Multiples||56,399||58,360|
|January to June — Total||81,986||84,824|
1 The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR). By removing seasonal ups and downs, seasonal adjustment allows for comparison of adjacent months and quarters. The monthly and quarterly SAAR and trend figures indicate the annual level of starts that would be obtained if the same pace of monthly or quarterly construction activity 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.
3 Urban centres with a population of 10,000 and over.
Detailed data available upon request