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Housing starts up in February again


March 8, 2012
By Scott Jamieson

March 8, 2012, Ottawa – The seasonally adjusted annual rate of housing starts was
201,100 units in February, according to Canada Mortgage and Housing
Corporation (CMHC). This is up from 198,100 units in January.

Factors contributing to the increase in housing starts include a rise
in multiple housing starts in Québec, and to a lesser extent, in
British Columbia. “Increases in these provinces were partially offset by
decreases in multiple starts in Ontario and Atlantic Canada,” said
Mathieu Laberge, Deputy Chief Economist at CMHC’s Market Analysis
Centre. “Multiple housing starts in Québec had fallen nearly 50 per cent
in January, so February’s rise can be seen as a return to a more normal
rate of construction.”

The seasonally adjusted annual rate of urban starts increased by
3.4 per cent to 182,800 units in February. Urban single starts rose by
3.5 per cent in February to 67,400 units. Similarly, multiple urban
starts were up by 3.3 per cent to 115,400 units.

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February’s seasonally adjusted annual rate of urban starts increased
by 49.8 per cent in Québec, by 10.2 per cent in the Prairies, and by
9.6 per cent in British Columbia. Urban starts decreased by
15.5 per cent in Atlantic Canada and by 16.9 per cent in Ontario.

Rural starts2 were estimated at a seasonally adjusted annual rate of 18,300 units in February.

As Canada's national housing agency, CMHC draws on more than 65 years
of experience to help Canadians access a variety of high quality,
environmentally sustainable and affordable housing solutions. 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 informed decisions.

For more information, call 1-800-668-2642. CMHC Market Analysis standard reports are also available free for download at www.cmhc.ca/housingmarketinformation.


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