MONTRÉAL, October 11, 2016 — Housing starts in the Montréal census metropolitan area (CMA) were trending at 20,165 units in September compared to 16,046 in August 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.

“Montréal housing starts followed an upward trend in September,” said Francis Cortellino, CMHC Principal Market Analyst, for Montréal. “This significant increase is mostly attributable to the start of large rental housing projects, especially such projects targeted to seniors.”

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 the housing market. In some situations, analyzing only SAAR data can be misleading in some markets, as they are largely driven by the multiples segment of the markets, which can be quite variable from one month to the next.

The stand-alone monthly SAAR was 35,618 units in September, up from 17,779 in August. The significant variation in the annual rate was due to the multiple-unit housing segment, where notable fluctuations are often observed from one month to the next.

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.

Follow us on Twitter, YouTube, LinkedIn and Facebook

Information on This Release:

Media Contact
Catherine Léger
514-283-7972
cleger@cmhc-schl.gc.ca

Additional data is available upon request.

*SAAR: Seasonally Adjusted Annual Rate

Preliminary Housing Start Data
September 2016
Montréal CMA1 August 2016 September 2016
Trend2 16,046 20,165
SAAR 17,779 35,618
  September 2015 September 2016
Actual    
September — Single-detached 201 266
September — Multiples 3,067 2,684
September — Total 3,268 2,950
January to September — Single-detached 1,764 1,836
January to September — Multiples 11,499 11,422
January to September — Total 13,263 13,258

Source: CMHC
1 Census Metropolitan Area
2 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.
Detailed data available upon request

Montreal Preliminary Actual Housing Start Data by Intended Market
September 2015 – 2016
Montreal, CMA1 Freehold-Single2 Freehold-Multi2 Rental Condo Total
  2015 2016 2015 2016 2015 2016 2015 2016 2015 2016
Montreal Island 13 18 4 15 610 310 1,360 261 1,987 604
Laval 16 22 19 18 11 79 252 113 298 232
North-Shore 88 117 40 43 314 204 134 105 576 469
South-Shore 51 69 28 46 137 735 96 113 312 963
Vaudreuil-Soulanges 33 40 19 32 1 488 42 122 95 682
Total Montreal CMA Starts 201 266 110 154 1,073 1,816 1,884 714 3,268 2,950

Source: CMHC
1 Census Metropolitan Area
2 Freehold homes refer to dwellings where the owner also holds the title of ownership to the land (single-detached houses and the following multiple-unit housing types: semi-detached houses, row homes and duplexes).
Detailed data available upon request.

Montreal Preliminary Actual Housing Start Data by Intended Market
Year to Date / 2015 – 2016
Montreal, CMA1 Freehold-Single2 Freehold-Multi2 Rental Condo Total
  2015 2016 2015 2016 2015 2016 2015 2016 2015 2016
Montreal Island 103 106 104 130 1,129 1,992 3,047 2,320 4,383 4,548
Laval 134 126 95 71 529 178 647 929 1,405 1,304
North-Shore 823 864 269 378 1,865 1,135 783 834 3,740 3,211
South-Shore 483 514 351 485 1,429 1,329 952 762 3,215 3,090
Vaudreuil-Soulanges 221 226 91 117 63 552 145 210 520 1,105
Total Montreal CMA Starts 1,764 1,836 910 1,181 5,015 5,186 5,574 5,055 13,263 13,258

Source: CMHC
1 Census Metropolitan Area
2 Freehold homes refer to dwellings where the owner also holds the title of ownership to the land (single-detached houses and the following multiple-unit housing types: semi-detached houses, row homes and duplexes).
Detailed data available upon request.

Date Published: October 11, 2016