Housing starts up in August

    OTTAWA, Sept. 9 /CNW Telbec/ - The seasonally adjusted annual rate(1) of
housing starts was 211,000 units in August, up from 186,500 units in July,
according to Canada Mortgage and Housing Corporation (CMHC).
    "After a brief pause in July, the volatile multiple segment bounced back
to a level of activity that is more consistent with our forecast for this
year," said Bob Dugan, Chief Economist at CMHC's Market Analysis Centre. "Most
of the volatility in housing starts over the last three months reflected
swings in multiple starts in Ontario."
    The seasonally adjusted annual rate of urban starts rose 15.2 per cent in
August compared to July. Both urban multiples and singles moved higher, with
an increase of 25.2 per cent for multiples to 114,700 units, and a 2.0 per
cent increase for singles to 71,200 units.
    The seasonally adjusted annual rate of urban starts was down in every
region except Ontario where housing starts jumped 81.0 per cent to 86,500.
Urban starts sagged 22.5 per cent to 23,700 units in the Prairies and dropped
11.5 in Atlantic Canada. Smaller declines of 8.7 per cent and 8.2 per cent
were recorded in Quebec (37,600 units) and British Columbia (30,400 units)
    Rural starts were estimated at a seasonally adjusted annual rate of
25,100 units in August(2).
    For the first eight months of 2008, actual starts in rural and urban
areas combined were down an estimated 4.3 per cent compared to the same period
last year. Year-to-date actual starts in urban areas have increased by an
estimated 1.0 per cent over the same period in 2007. Actual urban single
starts for the January to August period of this year were 16.8 per cent lower
than they were a year earlier, while urban multiple starts were up by 17.6 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
                            August        August          July        August
                              2007          2008          2008          2008
                             Final   Preliminary         Final   Preliminary
    Canada, all areas       20,868        18,396       186,500       211,000
      Canada, rural areas    3,667         2,525        25,100        25,100
      Canada, urban
       centres(xx)          17,201        15,871       161,400       185,900
        Canada, singles,
         urban centres       8,526         6,406        69,800        71,200
        Canada, multiples,
         urban centres       8,675         9,465        91,600       114,700

        Atlantic region,
         urban centres       1,071           783         8,700         7,700
        Quebec, urban
         centres             3,221         2,869        41,200        37,600
        Ontario, urban
         centres             5,721         7,768        47,800        86,500
        Prairie region,
         urban centres       4,447         2,034        30,600        23,700
        British Columbia,
         urban centres       2,741         2,417        33,100        30,400
    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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