Quebec Housing Starts in September
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwire) -- 10/11/11 -- According to the results of the latest monthly survey conducted by Canada Mortgage and Housing Corporation (CMHC), residential construction increased this past month in Quebec's centres with 10,000 or more inhabitants. In all, 4,616 dwellings were started in September 2011, compared to 3,623 a year earlier. As well, the seasonally adjusted annual rate of starts for this same month (50,700) was higher than for the month of August (38,400).
The result for September brought year-to-date urban starts to 30,420 units, for a decrease of 6 per cent from the first nine months of 2010. This decline was due to the single-detached home segment (-17 per cent), as multiple-unit housing starts barely declined (-1 per cent).
"The notable increase in activity recorded in September was exceptional and resulted from the simultaneous start of construction on a number of new condominium projects in Montreal. Elsewhere across Quebec, housing starts were essentially on the decline. Given the sustained pace observed in recent years and the potential demand, we still expect that the downward trend will resume in the short term," said Kevin Hughes, Senior Economist at CMHC for Quebec.
An increase in activity was registered in the multiple-unit (semi-detached, row and apartment) housing segment, where starts rose from 2,558 units in September 2010 to 3,590 units a year later, for a gain of 40 per cent. Moreover, the seasonally adjusted annual rate was 39,300 for September, compared to 27,200 for the previous month. The result for September was attributable to the major hike recorded in the Montreal market.
Single-detached home starts fell by 4 per cent in September 2011 from the same month in 2010. As well, the seasonally adjusted annual rate was 11,400 for September, up from 11,200 for August. With the exception of Sherbrooke and Trois-Rivieres, all census metropolitan areas (CMAs) in the province sustained decreases (see table).
As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions. For more information, call 1-800-668-2642.
Contacts:
Province
Kevin Hughes
Regional Economist
514-283-4488
Montreal
Bertrand Recher
Senior Market Analyst
514-283-2758
Sherbrooke (Estrie)
Lydia Yakonowsky
Market Analyst
514-283-2203
Trois-Rivieres (Mauricie)
Marie-Elaine Denis
Market Analyst
418-649-8100
Gatineau (Outaouais, Abitibi)
Francis Cortellino
Senior Market Analyst
514-283-8391
Saguenay
Sebastien Paquet-Poirier
Market Analyst
418-649-8102
Quebec
Elisabeth Koulouris
Senior Market Analyst
418-649-8098
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Datum: 11.10.2011 - 06:15 Uhr
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News-ID 1044397
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