Housing starts move lower in July



    OTTAWA, Aug. 9 /CNW Telbec/ - The seasonally adjusted annual rate(1) of
housing starts was 215,600 units in July, down from 225,300 units in June,
according to Canada Mortgage and Housing Corporation (CMHC).
    "Housing starts in July continued their gradual decreasing trend as both
multiple and single-detached starts declined," said Bob Dugan, Chief Economist
at CMHC's Market Analysis Centre. "The lower level of housing starts this
month is consistent with our forecast of a gradual easing in the pace of new
home construction in 2007 caused by rising prices and slightly higher mortgage
rates."
    The seasonally adjusted annual rate of urban starts decreased
5.7 per cent to 181,800 in July, compared to June. Urban singles were down
2.7 per cent to 89,700 units in July, while multiple starts decreased
8.4 per cent to 92,100 units.
    In July, seasonally adjusted urban starts decreased in four out of five
regions. Urban starts registered an increase only in Ontario where they rose
by 4.6 per cent. There was a decrease of 12.8 per cent in Quebec, 9.3 per cent
in the Prairies, 8.1 per cent in British Columbia, and 3.8 per cent in the
Atlantic region. Urban single starts were up in Ontario (2.8 per cent) and the
Atlantic (6.4 per cent), while urban multiple starts declined in all regions
except for Ontario, where multiple starts increased 6.9 per cent.
    Rural starts were estimated at a seasonally adjusted annual rate of
33,800 units in July.
    Actual starts, in rural and urban areas combined, were down an estimated
4.8 per cent in the first seven months of 2007 compared to the same period in
2006. In urban areas, actual total starts fell an estimated 6.0 per cent
year-to-date with both single and multiple starts declining by 6.7 per cent
and 5.2 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/2007/2007-08-09-0815.cfm





                     Housing Starts, Actual and SAAR(*)
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
                                      Actual                     SAAR
                              -----------------------------------------------
                                July         July          June         July
                                2006         2007          2007         2007
    -------------------------------------------------------------------------
                               Final  Preliminary         Final  Preliminary
    -------------------------------------------------------------------------
    Canada, all areas         23,054       20,520       225,300      215,600
       Canada, rural areas     3,756        3,599        32,600       33,800
       Canada, urban
        centres(xx)           19,298       16,921       192,700      181,800
          Canada, singles,
           urban centres       9,188        8,919        92,200       89,700
          Canada, multiples,
           urban centres      10,110        8,002       100,500       92,100

          Atlantic region,
           urban centres       1,010          892         7,900        7,600
          Quebec, urban
           centres             2,782        3,154        46,700       40,700
          Ontario, urban
           centres             7,700        6,310        56,500       59,100
          Prairie region,
           urban centres       4,393        3,723        47,100       42,700
          British Columbia,
           urban centres       3,413        2,842        34,500       31,700
    -------------------------------------------------------------------------
    Source: CMHC
    (*)  Seasonally adjusted annual rates
    (xx) Urban centres with a population of 10,000 persons 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: Sandra Girard, CMHC, (514)
283-5075, sgirard@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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