Housing starts trend increases in September
October 11, 2016 By Ground Water Canada
Ottawa – In September, the seasonally adjusted annual rate of urban starts increased in British Columbia, Quebec, the Prairies and Atlantic Canada but decreased in Ontario, according to Canada Mortgage and Housing Corporation.
The trend measure of housing starts in Canada was 199,503 units in September compared to 196,465 in August.
“Quebec saw the largest gain in housing starts due to the development of new rental apartments intended for seniors. That said, Quebec’s growing apartment stock emphasizes the importance of inventory management,” said Bob Dugan, CMHC chief economist.
The standalone monthly seasonally adjusted annual rate (SAAR) for all areas in Canada was 220,617 units in September, up from 184,201 units in August. The SAAR of urban starts increased by 19.7 per cent in September to 201,848 units. Multiple urban starts increased by 22.3 per cent to 137,803 units in September and single-detached urban starts increased by 14.5 per cent to 64,045 units.
Rural starts were estimated at 18,769 units, up from the estimated 14,824 units in August.
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