OTTAWA, Ontario, December 9, 2002 — The seasonally adjusted annual rate1 of housing starts in Canada declined 3% in November to 213,500 units from a revised2 220,100 units in October, according to Canada Mortgage and Housing Corporation (CMHC).
Urban multiple starts rose 1.4% to an annual rate of 85,000 units in November from 83,800 in October, while the rate for urban singles declined 6.9% to 104,600 units from 112,400 units. Rural starts in November were estimated at an annual rate of 23,900 units.
"Despite the slight decline from October, November's annual rate of housing starts remains high, staying above 210,000 for the third time in the past four months", said Michel Laurence, Chief Economist at CMHC's Market Analysis Centre. "The percentage increase in actual urban housing starts this year is on a pace to be the second highest since 1958."
Estimated actual urban housing starts for January to November this year are 27.6% higher than for the same period last year (166,168 units compared with 130,276 units). The single-detached market increased 33% while multiples increased 20.9%.
1. All starts figures in this release, other than actual starts, are seasonally adjusted annual rates (SAAR) that are monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels.Special note:
Prior to July 2002, the CMHC Starts and Completions Survey consisted of a monthly enumeration of new housing activity in urban centres with a population of 10,000 persons and over. As of July 2002, the survey will be conducted monthly in urban centres with a population of 50,000 persons and over and quarterly in urban centres with a population of 10,000 to 49,999 persons. Statistical models will be used to estimate provincial and national housing starts in urban centres with a population of 10,000 persons and over, on a monthly basis.
The methodology is unchanged for estimating housing starts in rural areas (areas other than urban centres with a population of 10,000 persons and over.) In these areas, a sample survey is used on a quarterly basis. As was the case in the past, statistical models continue to be used to estimate national housing starts in all areas on a monthly basis.
Information on this release:Michel Laurence
CMHC
(613) 748-2737
mlaurenc@cmhc-schl.gc.ca
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: Alex Medow, CMHC, (416) 218-3344, amedow@cmhc-schl.gc.ca
Prairie provinces: Vinay Bhardwaj, CMHC, (403) 515-3004, vbhardwa@cmhc-schl.gc.ca
British Columbia: Cameron Muir, CMHC, (604) 737-4144, cmuir@cmhc-schl.gc.ca
Housing Starts, Actual and SAAR* |
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| October 2002 Final |
November 2002 Preliminary |
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| Actual | SAAR | Actual | SAAR | |
| Canada, all areas | 19,843 | 220,100 | 19,005 | 213,500 |
| Canada, rural areas | 2,366 | 23,900 | 2,347 | 23,900 |
| Canada, urban centres** | 17,477 | 196,200 | 16,658 | 189,600 |
| Canada, singles, urban centres | 9,623 | 112,400 | 8,529 | 104,600 |
| Canada, multiples, urban centres | 7,854 | 83,800 | 8,129 | 85,000 |
| Atlantic region, urban centres | 864 | 9,400 | 975 | 9,900 |
| Quebec, urban centres | 3,065 | 38,300 | 2,938 | 36,300 |
| Ontario, urban centres | 7,877 | 85,700 | 7,189 | 77,600 |
| Prairie region, urban centres | 3,761 | 41,400 | 3,322 | 40,000 |
| British Columbia, urban centres | 1,910 | 21,400 | 2,234 | 25,800 |
* Seasonally adjusted annual rates