Housing starts drop in October

    OTTAWA, Nov. 8 /CNW Telbec/ - The seasonally adjusted annual rate(1) of
housing starts was 219,500 units in October, down 22.0 per cent from
281,300 units in September, according to Canada Mortgage and Housing
Corporation (CMHC).
    "The decline in housing starts in October reflects the exceptional
strength in new construction in September rather than weakness in October,"
said Bob Dugan, Chief Economist at CMHC's Market Analysis Centre. "Much of the
decline in October can be attributed to the fall in multiple starts. We
continue to expect that residential construction activity will remain strong
throughout next year, with the trend decreasing gradually between now and the
end of 2008."
    The seasonally adjusted annual rate of urban starts decreased 24.9 per
cent to 183,600 in October, compared to September. Urban singles were down
6.0 per cent to 84,900 units in October, while multiple starts decreased
36.0 per cent to 98,700 units.
    In October, the seasonally adjusted annual rate of urban starts decreased
in all five regions. Urban starts registered a decrease of 14.7 per cent in
the Atlantic region, 36.0 per cent in Quebec, 30.6 per cent in Ontario,
20.0 per cent in the Prairies, and 5.6 per cent in British Columbia. Urban
single starts were down in all regions except British Columbia, where they
were unchanged. All regions saw declines in urban multiple starts. The largest
decrease was in Ontario where urban multiple starts dropped by 50.1 per cent.
    Rural starts were estimated at a seasonally adjusted annual rate of
35,900 units in October.
    Actual starts, in rural and urban areas combined, were up an estimated
1.5 per cent in the first 10 months of 2007 compared to the same period in
2006. In urban areas, actual total starts grew by an estimated 0.1 per cent
year-to-date. Actual urban single starts from January to October 2007 were
down 5.3 per cent compared to the same period in 2006, while multiple starts
grew by approximately 5.4 per cent over the same period.

    As Canada's national housing agency, 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

                     Housing Starts, Actual and SAAR(*)
                                     Actual                    SAAR
                              October      October    September      October
                                 2006         2007         2007         2007
                                Final  Preliminary        Final  Preliminary
    Canada, all areas          20,738       19,682      281,300      219,500
      Canada, rural areas       3,143        3,625       36,900       35,900
      Canada, urban
       centres(xx)             17,595       16,057      244,400      183,600
        Canada, singles,
         urban centres          8,220        7,370       90,300       84,900
        Canada, multiples,
         urban centres          9,375        8,687      154,100       98,700

        Atlantic region,
         urban centres            604          757       10,200        8,700
        Quebec, urban centres   4,246        3,433       61,600       39,400
        Ontario, urban
         centres                6,065        4,836       78,100       54,200
        Prairie region, urban
         centres                3,747        3,779       55,000       44,000
        British Columbia,
         urban centres          2,933        3,252       39,500       37,300
    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; Julie Girard, CMHC Media
Relations, (613) 748-4684, 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: 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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