Housing starts down in July

    OTTAWA, Aug. 11 /CNW Telbec/ - The seasonally adjusted annual rate(1) of
housing starts was 186,500 units in July, down from 215,900 units in June,
according to Canada Mortgage and Housing Corporation (CMHC).
    "After a strong first half of the year, the volatile multiple segment is
now readjusting itself." said Brent Weimer, Senior Economist at CMHC's Market
Analysis Centre. "This brings activity since the start of the year closer in
line with our 2008 forecast of more than 200,000 housing starts for the
seventh consecutive year."
    The seasonally adjusted annual rate of urban starts decreased by
14.8 per cent in July compared to June. Both urban multiples and singles moved
down, with a drop of 20.2 per cent for multiples to 91,600 units, and a
6.6 per cent decline for singles to 69,800 units.
    The seasonally adjusted annual rate of urban starts went down in Ontario
and to a lesser extent in the Prairies, where housing starts decreased by
38.8 per cent to 47,800 and by 1.6 per cent to 30,600 in July, respectively.
Urban starts increased slightly by 2.2 per cent to 41,200 units in Quebec, by
2.4 per cent to 8,700 units in Atlantic Canada, and by 5.1 per cent to
33,100 units in British Columbia. While single starts decreased in all regions
in July, with the exception of the Atlantic Canada where they remained
unchanged, multiple urban starts only registered a decline in Ontario.
    Rural starts were estimated at a seasonally adjusted annual rate of
25,100 units in July(2).
    For the first seven months of 2008, actual starts in rural and urban
areas combined were up an estimated 2.3 per cent compared to the same period
last year. Year-to-date actual starts in urban areas have increased by an
estimated 2.4 per cent over the same period in 2007. Actual urban single
starts for the January to July period of this year were 15.5 per cent lower
than they were a year earlier, while multiple starts were up by 19.0 per cent
over the same period.

    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 - 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

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

    (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.
    (2) CMHC estimates the level of rural starts 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 rural areas and
        revises the estimate.

    (Ce document existe également en français)

                     Housing Starts, Actual and SAAR(*)
                                           Actual                 SAAR
                                     July         July     June         July
                                     2007         2008     2008         2008
                                    Final  Preliminary    Final  Preliminary
    Canada, all areas              21,394       17,217  215,900      186,500
      Canada, rural areas           4,027        2,773   26,400       25,100
      Canada, urban centres(xx)    17,367       14,444  189,500      161,400
        Canada, singles, urban
         centres                    9,362        6,911   74,700       69,800
        Canada, multiples, urban
         centres                    8,005        7,533  114,800       91,600

        Atlantic region, urban
         centres                      956        1,000    8,500        8,700
        Quebec, urban centres       3,232        3,122   40,300       41,200
        Ontario, urban centres      6,461        4,911   78,100       47,800
        Prairie region, urban
         centres                    3,938        2,559   31,100       30,600
        British Columbia, urban
         centres                    2,780        2,852   31,500       33,100
    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: Julie Girard, CMHC, Media Relations, (613)
748-4684, Cell: (613) 295-6330, jagirard@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: Frédéric Brie, CMHC, (418)
649-8102, fbrie@cmhc-schl.gc.ca; Ontario: Jason Mercer, CMHC, (416) 218-3410,
jmercer@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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