Quebec Housing starts in April

MONTREAL, May 10 /CNW Telbec/ - According to the results of the latest monthly survey conducted by Canada Mortgage and Housing Corporation (CMHC), residential construction increased this past month in Quebec's centres with 10,000 or more inhabitants. In all, 4,213 dwellings were started in April 2010, compared to 3,180 a year earlier. The seasonally adjusted annual rate of starts for this same month (47,300) was also up from the pace recorded in March (46,800). "It must be recalled that the April total reflects market conditions of the second half of 2009. During this period, financing conditions were particularly favourable and the resale market had become tighter," said Kevin Hughes, Senior Economist at CMHC for Quebec.

The increase in starts noted in Quebec in April reflected the conditions observed in most census metropolitan areas (CMAs) across the province. In fact, while hikes were reported in Québec (+85 per cent), Montréal (+37 per cent), Sherbrooke and Saguenay (gains of more than 100 per cent in both these centres), construction got under way on fewer dwellings in Gatineau (-5 per cent) and Trois-Rivières (-19 per cent).

Single-detached home building increased in all of Quebec's CMAs, except Trois-Rivières, with the strongest growth having been recorded in Saguenay. Overall, foundations were laid for 1,317 single-detached homes in centres with 100,000 or more inhabitants, for a gain of 48 per cent.

In the multiple-unit housing segment, residential construction was up in four of Quebec's six CMAs. In this regard, the Québec, Saguenay and Sherbrooke CMAs stood out with much higher starts volumes (see table).

The survey results also revealed that starts in the larger census agglomerations (CAs) increased significantly year-over-year (from 79 units in 2009 to 240 in 2010). Both single-detached home building (+71 per cent) and multi-family housing construction (gain of more than 100 per cent) accounted for this growth.

As well, a closer review of the data shows that the increase in starts was particularly strong this past April in the case of units intended for the freehold market (+57 per cent) and the condominium segment (+46 per cent). The construction of dwellings intended for the rental market also rose during this period, although to a lesser extent (+28 per cent).

From January to April 2010, housing starts in Quebec's centres with 10,000 or more inhabitants were up by 37 per cent over the same period last year (rising to 12,578 units in 2010, from 9,148 in 2009). This result reflected the increases in both multiple-family housing construction (+39 per cent) and single-detached home building (+34 per cent).

As Canada's national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions. For more information, call 1-800-668-2642.

    
       Preliminary Results - Monthly Starts Survey - Province of Quebec
                        (centres with 10,000+ inhab.)

                    April

                 Singles                    Multiples            Total
              2009   2010      %   2009   2010      %    2009    2010      %
             -------------------- --------------------  ---------------------

    Centres with 100,000+ inhab.

    GATINEAU    89    110     24    268    228    -15     357     338     -5
    MONTRÉAL   470    777     65  1,229  1,544     26   1,699   2,321     37
    QUÉBEC     204    271     33    263    592   (XXX)    467     863     85
    SAGUENAY    33     61     85     12     40   (XXX)     45     101   (XXX)
    SHER-
     BROOKE     44     63     43     50    163   (XXX)     94     226   (XXX)
    TROIS-
     RIVIÈRES   48     35    -27     68     59    -13     116      94    -19

    Subtotal
     (100,000
     +)        888  1,317     48  1,890  2,626     39   2,778   3,943     42

    Centers with 50,000 to 99,999 inhab.

    DRUMMOND-
     VILLE      20     44   (XXX)     2     50   (XXX)     22      94   (XXX)
    GRANBY      10     25   (XXX)     0     68   (XXX)     10      93   (XXX)
    SAINT-
     HYACIN-
     THE         6      3    -50      3     16   (XXX)      9      19   (XXX)
    SHAWINI-
     GAN         8      4    -50      4      4      0      12       8    -33
    SAINT-
     JEAN-SUR-
     RICHE-
     LIEU       14     23     64     12      3    -75      26      26      0

    Subtotal
     (50,000
     to
     99,999)    58     99     71     21    141   (XXX)     79     240   (XXX)

    Quebec
     (esti-
     mate
     10,000
     +)      1,150  1,451     26  2,030  2,762     36   3,180   4,213     32


    January to April

                 Singles                    Multiples            Total
              2009   2010      %   2009   2010      %    2009    2010      %
             -------------------- --------------------  ---------------------

    Centres with 100,000+ inhab.

    GATINEAU   276    223    -19    699    486    -30     975     709    -27
    MONTRÉAL 1,266  2,097     66  4,186  5,131     23   5,452   7,228     33
    QUÉBEC     435    597     37    523  1,391   (XXX)    958   1,988   (XXX)
    SAGUENAY    47     84     79     30     73   (XXX)     77     157   (XXX)
    SHER-
     BROOKE    157    151     -4    196    409   (XXX)    353     560     59
    TROIS-
     RIVIÈRES   72     76      6    118    481   (XXX)    190     557   (XXX)

    Subtotal
     (100,000
     +)      2,253  3,228     43  5,752  7,971     39   8,005  11,199     40

    Centers with 50,000 to 99,999 inhab.

    DRUMMOND-
     VILLE      52     98     88     45     93   (XXX)     97     191     97
    GRANBY      40     52     30     92    176     91     132     228     73
    SAINT-
     HYACIN-
     THE        13     12     -8     29     24    -17      42      36    -14
    SHAWINI-
     GAN        11     13     18     10      4    -60      21      17    -19
    SAINT-
     JEAN-SUR-
     RICHE-
     LIEU       49     81     65     50     18    -64      99      99      0

    Subtotal
     (50,000
      to
     99,999)   165    256     55    226    315     39     391     571     46

    Quebec
     (esti-
     mate
     10,000
     +)      2,833  3,796     34  6,315  8,782     39   9,148  12,578     37

    (XXX) Absolute value greater than 100%
    

SOURCE Canada Mortgage and Housing Corporation

For further information: For further information: Province: Kevin Hughes, Senior Economist, (514) 283-4488; Montréal: David L'Heureux, Senior Market Analyst, (514) 496-2587; Sherbrooke (Estrie): Francis Cortellino, Senior Market Analyst, (514) 283-8391; Québec: Élisabeth Koulouris , Senior Market Analyst, (418) 649-8098; Trois-Rivières (Mauricie): Marie-Élaine Denis, Market Analyst, (418) 649-8100; Gatineau (Outaouais, Abitibi): Patrice Tardif, Senior Market Analyst, (514) 283-2097; Saguenay: Sébastien Paquet-Poirier, Market Analyst, (418) 649-8102


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