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Housing starts increase in August


September 17, 2009
By Andy Bateman

September 17, 2009 – The seasonally adjusted annual rate
of housing starts increased to 150,400 units in August from 134,200 units in
July, according to a recent report by the Canada Mortgage and Housing
Corporation (CMHC).

“Housing starts are trending higher, reflecting
improvements in both the single and multiple segments,” said Bob Dugan, Chief
Economist at CMHC’s Market Analysis Centre. “The improvement in housing starts
is consistent with our expectation of a stronger second half for 2009.”

 

The seasonally adjusted annual rate of urban starts
increased by 14.0 per cent to 131,800 units in August. Urban multiple
starts increased by 23.8 per cent to 77,600 units, while urban single
starts moved up 2.5 per cent to 54,200 units in August.

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August’s seasonally adjusted annual rate of urban starts
increased by 56.0 per cent in British Columbia, by
16.1 per cent in the Prairies, by 13.8 per cent in Ontario,
by 9.6 per cent in Atlantic Canada, and by 2.5 per cent in
Quebec.

 

Rural starts were estimated at a seasonally adjusted
annual rate of 18,600 units in August.


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