Canadian Housing Starts Trend Upwards in March
(firmenpresse) - OTTAWA, ONTARIO -- (Marketwired) -- 04/10/17 -- Housing starts are trending higher at 211,342 units in March 2017, compared to 205,521 units in February 2017, according to Canada Mortgage and Housing Corporation (CMHC). This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
"March housing starts were at their highest level since September 2007, pushing the trend in housing starts upward for a third consecutive month," said Bob Dugan, CMHC''s Chief Economist. "Stronger residential construction at the national level is reflected by a rising trend in single-detached and multi-unit starts in Ontario and continued growth of new rental apartments in Quebec."
Monthly Highlights
CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of Canada''s housing market. In some situations analyzing only SAAR data can be misleading, as they are largely driven by the multi-unit segment of the market which can vary significantly from one month to the next.
The standalone monthly SAAR of housing starts for all areas in Canada was 253,720 units in March, up from 214,253 units in February. The SAAR of urban starts increased by 20.2 per cent in March to 235,674 units. Multiple urban starts increased by 30.2 per cent to 160,989 units in March, while single-detached urban starts increased by 3.1 per cent, to 74,685 units.
Rural starts were estimated at a seasonally adjusted annual rate of 18,046 units.
data is also available in English and French through our website and through CMHC''s Our analysts are also available to provide further insight into their respective markets.
As Canada''s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.
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Additional data is available upon request.
To view the graph and table associated with this release, please visit the following link:
Contacts:
CMHC media relations
National/British Columbia
Jonathan Rotondo
CMHC Media Relations
613-748-2734
Atlantic
Katherine LeBlanc
902-789-5709
Quebec/Prairies
Catherine Leger
514-283-7972
Ontario
Angelina Ritacco
416-218-3320
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Datum: 10.04.2017 - 06:16 Uhr
Sprache: Deutsch
News-ID 1497671
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