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Canadian Housing Starts Trend Increases in June

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.

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Information on This Release:

Karine LeBlanc
CMHC Media Relations
613-740-5413
kjleblan@cmhc-schl.gc.ca

This release is also available at www.cmhc.ca.

Additional data is available upon request.

Preliminary Housing Start Data
June 2016
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
Single-detached 58,892 59,883
Multiples 112,764 142,819
Total 171,656 202,702
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

Source: CMHC
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

Canada

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