August Sees Slight Increase in Montréal Housing Starts Trend

MONTRÉAL, September 8, 2016 — Housing starts in the Montréal census metropolitan area (CMA) were trending at 16,066 units in August compared to 15,587 in July 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.

“August saw an uptick in Montreal’s housing starts trend, as construction began on some large downtown condo projects,” said Rosemarie Bégin, CMHC Market Analyst for Montreal. “Moreover, only the Island of Montréal recorded an increase in total housing starts so far this year”.

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 18,048 units in August, up from 15,161 in July.

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.

hs-montreal_1

*SAAR: Seasonally Adjusted Annual Rate

Preliminary Housing Start Data August 2016
Montréal CMA1 July 2016 August 2016
Trend2 15,587 16,066
SAAR 15,161 18,048
  August 2015 August 2016
Actual    
August — Single-detached 183 133
August — Multiples 919 1,339
August — Total 1,102 1,472
January to August — Single-detached 1,563 1,570
January to August — Multiples 8,432 8,763
January to August — Total 9,995 10,333

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
August 2015 – 2016
Montreal, CMA1 Freehold-Single2 Freehold-Multi2 Rental Condo Total
  2015 2016 2015 2016 2015 2016 2015 2016 2015 2016
Montreal Island 12 7 25 13 198 80 53 623 288 723
Laval 8 8 0 2 0 15 132 246 140 271
North-Shore 83 70 28 41 147 164 17 6 275 281
South-Shore 60 32 67 30 93 37 102 62 322 161
Vaudreuil-Soulanges 20 16 6 - - - 51 20 77 36
Total Montreal CMA Starts 183 133 126 86 438 296 355 957 1,102 1,472

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 90 88 100 115 519 1,682 1,687 2,059 2,396 3,944
Laval 118 104 76 53 518 99 395 816 1,107 1,072
North-Shore 735 747 229 335 1,551 956 649 729 3,164 2,767
South-Shore 432 445 323 439 1,292 594 856 649 2,903 2,127
Vaudreuil-Soulanges 188 186 72 85 62 64 103 88 425 423
Total Montreal CMA Starts 1,563 1,570 800 1,027 3,942 3,395 3,690 4,341 9,995 10,333

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.

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