Housing starts move higher in August



    OTTAWA, Sept. 11 /CNW Telbec/ - The seasonally adjusted annual rate(1) of
housing starts was 226,500 units in August, up from 215,600 units in July,
according to Canada Mortgage and Housing Corporation (CMHC).
    "The rise in August housing starts reflects a rebound in the volatile
multiple starts segment," said Bob Dugan, Chief Economist at CMHC's Market
Analysis Centre. "In particular, the strong results achieved this past month
can be attributed to multiple starts in the Atlantic region, British Columbia
and the Prairies. Despite the increase in August, the pace of housing starts
remains consistent with our view that residential construction will decrease
gradually between now and the end of 2008."
    The seasonally adjusted annual rate of urban starts increased
6.0 per cent to 192,700 in August, compared to July. Urban singles were up
1.8 per cent to 91,300 units in August, while multiple starts increased
10.1 per cent to 101,400 units.
    In August, seasonally adjusted urban starts increased in four out of five
regions. Urban starts registered an increase of 18.4 per cent in the Atlantic
region, 10.8 per cent in the Prairies, 7.9 per cent in British Columbia, and
4.4 per cent in Ontario, while in Quebec, urban starts declined by less than
one per cent. Urban single starts were up in all regions except British
Columbia, where single starts declined 4.7 per cent. The Atlantic region, the
Prairies, and British Columbia all saw double-digit increases in urban
multiple starts, while Ontario increased by 4.9 per cent. Quebec saw a decline
in multiple starts of 1.2 per cent.
    Rural starts were estimated at a seasonally adjusted annual rate of
33,800 units in August.
    Actual starts, in rural and urban areas combined, were down an estimated
4.5 per cent in the first eight months of 2007 compared to the same period in
2006. In urban areas, actual total starts also fell an estimated 4.5 per cent
year-to-date with both single and multiple starts declining by 6.1 per cent
and 2.9 per cent respectively.

    As Canada's national housing agency, Canada Mortgage and Housing
Corporation (CMHC) draws on over 60 years of experience to help Canadians
access a variety of quality, environmentally sustainable, and affordable homes
- homes that will continue to create vibrant and healthy communities and
cities across the country.

    For more information, visit www.cmhc.ca or call 1-800-668-2642.

    
    ------------------
    (1) All starts figures in this release, other than actual starts, are
    seasonally adjusted annual rates (SAAR) - that is, monthly figures
    adjusted to remove normal seasonal variation and multiplied by 12 to
    reflect annual levels.

    (Ce document existe également en français)

    Please click below to view the Housing Starts in Canada - All areas chart

    http://www.cmhc-schl.gc.ca/en/corp/nero/nere/2007/2007-09-11-0815.cfm


                     Housing Starts, Actual and SAAR(*)
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
                                      Actual                     SAAR
                              -----------------------------------------------
                              August        August       July         August
                                2006          2007       2007           2007
    -------------------------------------------------------------------------
                               Final   Preliminary      Final    Preliminary
    -------------------------------------------------------------------------
    Canada, all areas         19,013        20,022    215,600        226,500
      Canada, rural areas      3,179         3,251     33,800         33,800
      Canada, urban
       centres(xx)            15,834        16,771    181,800        192,700
         Canada, singles,
          urban centres        8,298         8,103     89,700         91,300
         Canada, multiples,
          urban centres        7,536         8,668     92,100        101,400


         Atlantic region,
          urban centres          723           999      7,600          9,000
         Quebec, urban
          centres              3,110         3,153     40,700         40,500
         Ontario, urban
          centres              5,623         5,589     59,100         61,700
         Prairie region,
          urban centres        3,963         4,227     42,700         47,300
          British Columbia,
           urban centres       2,415         2,803     31,700         34,200
    -------------------------------------------------------------------------
    Source: CMHC
    (*)Seasonally adjusted annual rates
    (xx) Urban centres with a population of 10,000 and over.
         Detailed data available upon request.
    




For further information:

For further information: on this release: Kristen Scheel, CMHC Media
Relations, (613) 748-4632, kscheel@cmhc-schl.gc.ca; This release is also
available on the CMHC Web site: http://www.cmhc-schl.gc.ca; For regional
starts information contact: Atlantic provinces: Alex MacDonald, CMHC, (902)
426-8964, amacdona@cmhc-schl.gc.ca; Quebec: Kevin Hughes, CMHC, (514)
283-4488, khughes@cmhc-schl.gc.ca; Ontario: Ted Tsiakopoulos, CMHC, (416)
218-3407, ttsiakop@cmhc-schl.gc.ca; Prairie provinces: Richard Corriveau,
CMHC, (403) 515-3005, rcorrive@cmhc-schl.gc.ca; British Columbia: Carol
Frketich, CMHC, (604) 737-4067, cfrketic@cmhc-schl.gc.ca


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