Housing starts rebound in January

    OTTAWA, Feb. 8 /CNW Telbec/ - The seasonally adjusted annual rate(1) of
housing starts was 222,700 units in January, up from 184,700 units in
December, according to Canada Mortgage and Housing Corporation (CMHC).
    "Historically low mortgage rates, solid employment and income growth as
well as a high level of consumer confidence continue to underpin the high
level of housing starts", said Bob Dugan, Chief Economist at CMHC's Market
Analysis Centre. "Housing starts in January returned to a level more
consistent with our expectation that housing starts will total 211,700 units
in 2008, remaining above the 200,000 mark for the seventh consecutive year."
    In January the seasonally adjusted annual rate of urban starts increased
25.2 per cent to 189,500 units compared to December. Urban multiples surged
64.1 per cent to 108,000 units in January, while singles fell 4.8 per cent to
81,500 units.
    The seasonally adjusted annual rate of urban starts increased in four of
Canada's five regions in January. Urban starts registered an increase of
43.7 per cent in Ontario, 22.4 per cent in Quebec, 19.4 per cent in the
Prairies and 17.5 per cent in British Columbia. The Atlantic region bucked the
trend and registered a decline of 17.4 per cent in January. Urban multiple
starts were up in all regions except in the Atlantic. Urban singles were down
in all regions except Quebec and Ontario.
    Rural starts were estimated at a seasonally adjusted annual rate of
33,200 units in January.
    Actual starts in rural and urban areas combined, decreased by an
estimated 11.1 per cent in January 2008 compared to January 2007. In urban
areas, actual total starts decreased by an estimated 11.5 per cent. Actual
urban single starts for January 2008 were down 15.7 per cent compared to
January 2007, while multiple starts fell an estimated 8.9 per cent over the
same time 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.

    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.

    (Ce document existe également en français)

                     Housing Starts, Actual and SAAR(*)
                                        Actual                   SAAR
                                  January    January    December     January
                                     2007       2008        2007        2008
                                    Final      Preli-      Final       Preli-
                                              minary                  minary
    Canada, all areas              15,327     13,621     184,700     222,700
      Canada, rural areas           1,744      1,598      33,300      33,200
      Canada, urban centres(xx)    13,583     12,023     151,400     189,500
        Canada, singles, urban
         centres                    5,222      4,402      85,600      81,500
        Canada, multiples, urban
         centres                    8,361      7,621      65,800     108,000

        Atlantic region, urban
         centres                      503        361       8,600       7,100
        Quebec, urban centres       2,334      2,353      33,100      40,500
        Ontario, urban centres      4,493      4,190      47,100      67,700
        Prairie region, urban
         centres                    3,715      2,777      34,000      40,600
        British Columbia, urban
         centres                    2,538      2,342      28,600      33,600
    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: 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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