April 2016 Housing Starts in Montréal

MONTRÉAL, May 9, 2016 — Housing starts in the Montréal census metropolitan area (CMA) were trending at 15,570 units in April compared to 17,215 in March 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.

“While housing starts trended lower in April, rental apartment construction remained relatively strong. As the condo market runs out of steam, some builders are turning their attention to the rental market. Relatively low vacancy in newer rental buildings supports the idea that there is demand for more modern units,” said Geneviève Lapointe, CMHC Principal Market Analyst in Montréal.

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 12,300 units in April, up from 10,857 in March.

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.

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Information on this release:

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

Additional data is available upon request.

*SAAR: Seasonally Adjusted Annual Rate

    Preliminary Housing Start Data
    April 2016  
Montréal CMA1 March 2016 April 2016
Trend2 17,215 15,570
SAAR 10,875 12,300
  April 2015 April 2016
Actual    
April — Single-detached 217 288
April — Multiples 841 952
April — Total 1,058 1,240
January to April — Single-detached 534 595
January to April — Multiples 2,672 3,436
January to April — Total 3,206 4,031

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
April 2015 – 2016
Montreal, CMA1 Freehold-Single2 Freehold-Multi2 Rental Condo Total
  2015 2016 2015 2016 2015 2016 2015 2016 2015 2016
Montreal Island 4 7 8 12 9 293 54 94 75 406
Laval 18 21 24 16 12 7 3 27 57 71
North-Shore 97 115 38 62 43 30 98 84 276 291
South-Shore 84 103 92 99 227 77 222 116 625 395
Vaudreuil-Soulanges 14 42 11 28 0 1 0 6 25 77
Total Montreal CMA Starts 217 288 173 217 291 408 377 327 1,058 1,240

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 21 19 42 42 43 1,194 880 352 986 1,607
Laval 42 45 52 26 188 68 54 328 336 467
North-Shore 241 270 96 167 179 168 222 216 738 821
South-Shore 165 181 128 192 321 289 424 329 1,038 991
Vaudreuil-Soulanges 65 80 29 30 6 7 8 28 108 145
Total Montreal CMA Starts 534 595 347 457 737 1,726 1,588 1,253 3,206 4,031

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.
Detailed data available upon request.

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