Housing starts remained strong in September

    OTTAWA, Oct. 8 /CNW Telbec/ - The seasonally adjusted annual rate(1) of
housing starts was 217,600 units in September, up slightly from 217,400 units
in August, according to Canada Mortgage and Housing Corporation (CMHC).
    "Housing starts remained at a high level in September, with construction
activity again staying above the 200,000 unit threshold." said Bob Dugan,
Chief Economist at CMHC's Market Analysis Centre. "Higher starts of multiple
family homes were behind the rise in new home construction activity in
    The seasonally adjusted annual rate of urban starts rose 0.1 per cent in
September, compared to August. Urban multiples rose in September by
5.5 per cent to 122,500 units. Urban single starts decreased 8.1 per cent to
70,000 units in September compared to August.
    September's seasonally adjusted annual rate of urban starts went up or
remained unchanged in all regions of Canada, except Ontario, where housing
starts decreased by 6.6 per cent to 80,900 units. Urban starts increased to
9,500 units in Atlantic Canada, 29,000 units in the Prairies, and 33,600 units
in British Columbia. In the Quebec region, starts remained stable at
39,500 units. Multiple urban starts increased in all regions in September,
with the exception of Ontario, where they decreased by 1.9 per cent.
    Rural starts were estimated at a seasonally adjusted annual rate of
25,100 units in September(2).
    For the first nine months of 2008, actual starts in rural and urban areas
combined were down an estimated 5.7 per cent, compared to the same period last
year. Year-to-date actual starts in urban areas have decreased by an estimated
0.8 per cent over the same period in 2007. Actual urban single starts for the
January to September period of this year were 15.6 per cent lower than they
were a year earlier, while urban multiple starts were up by 12.2 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
                         September     September        August     September
                              2007          2008          2008          2008
                             Final   Preliminary         Final   Preliminary
    Canada, all areas       25,572        20,080       217,400       217,600
      Canada, rural areas    3,539         2,436        25,100        25,100
      Canada, urban
       centres(xx)          22,033        17,644       192,300       192,500
        Canada, singles,
         urban centres       8,227         6,299        76,200        70,000
        Canada, multiples,
         urban centres      13,806        11,345       116,100       122,500

        Atlantic region,
         urban centres       1,029         1,030         8,600         9,500
        Quebec, urban
         centres             5,442         3,575        39,500        39,500
        Ontario, urban
         centres             6,751         7,305        86,600        80,900
        Prairie region,
         urban centres       5,183         2,624        27,100        29,000
        British Columbia,
         urban centres       3,628         3,110        30,500        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: 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: 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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