Housing starts move higher in September

    OTTAWA, Oct. 9 /CNW Telbec/ - The seasonally adjusted annual rate(1) of
housing starts was 278,200 units in September, up 19.6 per cent from 232,700
units in August, according to Canada Mortgage and Housing Corporation (CMHC).
    "The rise in September housing starts reflects a strong multiple starts
segment," said Bob Dugan, Chief Economist at CMHC's Market Analysis Centre.
"In particular, the robust results achieved this month can be mostly
attributed to increased condominium starts, which reflect strong condo sales
over the past 12 to 24 months. Despite this sizeable growth in September, we
continue to expect that housing starts will decrease gradually between now and
the end of 2008."
    The seasonally adjusted annual rate of urban starts increased
22.9 per cent to 244,400 in September, compared to August. Urban singles were
down 4.3 per cent to 90,300 units in September, while multiple starts
increased 47.5 per cent to 154,100 units.
    In September, the seasonally adjusted annual rate of urban starts
increased in all five regions. Urban starts registered an increase of
3.0 per cent in the Atlantic region, 46.0 per cent in Quebec, 23.6 per cent in
Ontario, 11.1 per cent in the Prairies, and 15.8 per cent in British Columbia.
Urban single starts were down in all regions except Quebec, where single
starts were unchanged at 16,400 units. All regions saw double-digit increases
in urban multiple starts with Quebec leading the way with a 75.2 per cent
    Rural starts were estimated at a seasonally adjusted annual rate of
33,800 units in September.
    Actual starts, in rural and urban areas combined, were up an estimated
0.2 per cent in the first nine months of 2007 compared to the same period in
2006. In urban areas, actual total starts grew by an estimated 1.2 per cent
year-to-date. Single starts growth was -4.7 per cent while multiple starts
grew by approximately 7.0 per cent.

    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


                     Housing Starts, Actual and SAAR(*)
                                       Actual                     SAAR
                               September    September     August    September
                                    2006         2007       2007         2007
                                   Final  Preliminary      Final  Preliminary

    Canada, all areas             18,862       25,405    232,700      278,200
      Canada, rural areas          3,540        3,374     33,800       33,800
      Canada, urban centres(xx)   15,322       22,031    198,900      244,400
        Canada, singles,
         urban centres             8,612        8,226     94,400       90,300
        Canada, multiples,
         urban centres             6,710       13,805    104,500      154,100

        Atlantic region,
         urban centres               734        1,029      9,900       10,200
        Quebec, urban centres      2,927        5,442     42,200       61,600
        Ontario, urban centres     5,119        6,749     63,200       78,100
        Prairie region,
         urban centres             3,824        5,183     49,500       55,000
        British Columbia,
         urban centres             2,718        3,628     34,100       39,500
    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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