Le Lézard
Classified in: Business
Subjects: ECO, CFG

Housing starts trend upward in September


OTTAWA, ON, Oct. 18, 2023 /CNW/ - The trend in housing starts was higher in September at 254,006 units, up 3.9% from 244,511 units in August, according to Canada Mortgage and Housing Corporation (CMHC). The trend measure is a six-month moving average of the monthly SAAR of total housing starts for all areas in Canada.

The monthly seasonally adjusted annual rate (SAAR) of total housing starts for all areas in Canada increased 8% in September (270,466 units) compared to August (250,383 units).

The monthly SAAR of total urban (centres 10,000 population and over) housing starts increased 9%, with 250,766 units recorded in September. Multi-unit urban starts increased 10% to 207,689 units, while single-detached urban starts increased 3% to 43,077 units in September.

Total SAAR housing starts were up 98% in Montreal and 20% in Toronto in September, while Vancouver recorded a decrease of 17%, driven by declines in both single-detached (-12%) and multi-unit (-18%).

The rural starts monthly SAAR estimate was 19,700 units.

Quote:

Both the SAAR and trend in housing starts were higher in September. Multi-unit starts activity has persisted and maintained similar levels to 2022 despite the higher interest rate environment. This has helped offset double-digit declines in single-detached starts in all provinces. In fact, September was the second highest month this year for multi-unit starts. It seems the current higher interest rate environment has not yet had the expected negative impact on multi-unit construction activity so far in 2023," said Bob Dugan, CMHC's Chief Economist.

Key Facts:

As a trusted source of housing information, CMHC provides unbiased housing-related data, research, and market information to help close knowledge gaps, and deepen understanding of complex housing issues to inform future policy decisions. Housing starts facilitate the analysis of monthly, quarterly, and year-over-year activity in the new home market. The data we collect as part of our Starts and Completions and Market Absorption surveys helps us obtain a clearer picture of upcoming new housing supply and is used as part of our various housing reports.

For more information, visit our website at https://www.cmhc-schl.gc.ca/en, and follow us on Twitter, YouTube, LinkedIn, Facebook and Instagram.

Related Links:

Housing Start Data in Centres 10,000 Population and Over



Single-Detached

All Others

Total





September
2022

September
2023

%

September
2022

September
2023

%

September
2022

September
2023

%

Provinces (10,000+)










N.-L.


46

61

33

8

27

238

54

88

63

P.E.I.   


1

8

##

0

10

##

1

18

##

N.S.   


281

191

-32

104

537

416

385

728

89

N.B.   


133

91

-32

310

429

38

443

520

17

Atlantic


461

351

-24

422

1,003

138

883

1,354

53

Qc


537

440

-18

3,156

3,947

25

3,693

4,387

19

Ont. 


2,068

1,294

-37

9,168

7,266

-21

11,236

8,560

-24

Man.


227

137

-40

138

222

61

365

359

-2

Sask.


104

142

37

119

114

-4

223

256

15

Alta.   


1,461

1,185

-19

1,962

2,923

49

3,423

4,108

20

Prairies


1,792

1,464

-18

2,219

3,259

47

4,011

4,723

18

B.C.


747

522

-30

3,527

2,638

-25

4,274

3,160

-26

Canada (10,000+)

5,605

4,071

-27

18,492

18,113

-2

24,097

22,184

-8

Metropolitan Areas










Abbotsford-Mission

43

24

-44

125

12

-90

168

36

-79

Barrie


152

40

-74

395

123

-69

547

163

-70

Belleville - Quinte West

27

16

-41

17

0

-100

44

16

-64

Brantford


51

6

-88

46

27

-41

97

33

-66

Calgary


590

554

-6

1,089

2,180

100

1,679

2,734

63

Chilliwack


24

27

13

220

10

-95

244

37

-85

Drummondville

30

8

-73

58

42

-28

88

50

-43

Edmonton


678

464

-32

782

620

-21

1,460

1,084

-26

Fredericton


48

28

-42

77

283

268

125

311

149

Greater/Grand Sudbury

10

0

-100

18

5

-72

28

5

-82

Guelph


6

8

33

123

116

-6

129

124

-4

Halifax


80

78

-3

22

508

##

102

586

475

Hamilton


100

36

-64

89

167

88

189

203

7

Kamloops


10

47

370

5

78

##

15

125

##

Kelowna


44

17

-61

208

151

-27

252

168

-33

Kingston


61

38

-38

22

44

100

83

82

-1

Kitchener-Cambridge-Waterloo

86

38

-56

213

498

134

299

536

79

Lethbridge


19

24

26

3

8

167

22

32

45

London


61

52

-15

245

127

-48

306

179

-42

Moncton


35

24

-31

214

135

-37

249

159

-36

Montréal


152

99

-35

1,962

2,583

32

2,114

2,682

27

Nanaimo


21

11

-48

132

6

-95

153

17

-89

Oshawa


87

86

-1

221

10

-95

308

96

-69

Ottawa-Gatineau

287

193

-33

1,728

1,306

-24

2,015

1,499

-26

  Gatineau


33

48

45

124

219

77

157

267

70

  Ottawa


254

145

-43

1,604

1,087

-32

1,858

1,232

-34

Peterborough


50

11

-78

6

0

-100

56

11

-80

Québec


55

68

24

414

568

37

469

636

36

Red Deer


10

13

30

1

10

##

11

23

109

Regina


21

32

52

59

34

-42

80

66

-18

Saguenay


18

18

-

24

15

-38

42

33

-21

St. Catharines-Niagara

95

73

-23

697

308

-56

792

381

-52

Saint John


28

24

-14

0

5

##

28

29

4

St. John's


34

42

24

4

20

400

38

62

63

Saskatoon


77

105

36

45

20

-56

122

125

2

Sherbrooke


30

25

-17

125

84

-33

155

109

-30

Thunder Bay


17

30

76

8

30

275

25

60

140

Toronto


499

406

-19

4,931

4,469

-9

5,430

4,875

-10

Trois-Rivières


15

16

7

62

85

37

77

101

31

Vancouver


419

251

-40

2,293

1,922

-16

2,712

2,173

-20

Victoria


53

41

-23

217

175

-19

270

216

-20

Windsor


61

35

-43

122

11

-91

183

46

-75

Winnipeg


188

108

-43

95

159

67

283

267

-6

Total


4,372

3,216

-26

17,117

16,954

-1

21,489

20,170

-6

Data for 2022 based on 2016 Census Definitions and data for 2023 based on
2021 Census Definitions.
















Source: CMHC











## not calculable / extreme
value











 

Housing Start Data - Seasonally Adjusted at Annual Rates (SAAR)



Single-Detached

All Others

Total



August
2023

September
2023

%

August
2023

September
2023

%

August
2023

September
2023

%

Provinces (10,000+)










N.L.


499

608

22

300

271

-10

799

879

10

P.E.I.


235

95

-60

612

120

-80

847

215

-75

N.S. 


1,035

1,183

14

1,396

6,241

347

2,431

7,424

205

N.B.   


984

778

-21

5,548

5,203

-6

6,532

5,981

-8

Qc 


4,736

4,484

-5

38,337

40,501

6

43,073

44,985

4

Ont.  


13,006

14,164

9

66,586

84,637

27

79,592

98,801

24

Man.  


1,522

1,532

1

4,596

2,664

-42

6,118

4,196

-31

Sask.  


1,167

1,571

35

4,524

1,368

-70

5,691

2,939

-48

Alta.  


12,260

13,041

6

27,465

35,275

28

39,725

48,316

22

B.C.


6,255

5,621

-10

39,516

31,409

-21

45,771

37,030

-19

Canada (10,000+)

41,699

43,077

3

188,880

207,689

10

230,579

250,766

9

Canada (All Areas)

55,592

56,880

2

194,790

213,585

10

250,383

270,466

8

Metropolitan Areas

Abbotsford-Mission

312

236

-24

84

144

71

396

380

-4

Barrie


317

385

21

912

1,476

62

1,229

1,861

51

Belleville - Quinte West

172

165

-4

48

0

-100

220

165

-25

Brantford


11

75

##

144

324

125

155

399

157

Calgary


5,669

5,953

5

14,220

26,160

84

19,889

32,113

61

Chilliwack


289

282

-2

289

120

-58

1,033

402

-61

Drummondville

346

106

-69

348

504

45

694

610

-12

Edmonton


5,109

5,278

3

11,880

7,440

-37

16,989

12,718

-25

Fredericton


241

298

24

360

3,396

##

601

3,694

##

Greater/Grand Sudbury

64

0

-100

864

60

-93

928

60

-94

Guelph


83

110

33

96

1,392

##

179

1,502

##

Halifax


410

627

53

1,068

6,096

471

1,478

6,723

355

Hamilton


194

348

79

2,484

2,004

-19

2,678

2,352

-12

Kamloops


0

474

##

300

936

212

300

1,410

370

Kelowna


447

255

-43

840

1,812

116

1,287

2,067

61

Kingston


253

289

14

396

528

33

649

817

26

Kitchener-Cambridge-Waterloo

838

520

-38

1,392

5,976

329

2,230

6,496

191

Lethbridge


74

269

264

0

96

##

74

365

393

London


406

507

25

1,332

1,524

14

1,738

2,031

17

Moncton


343

205

-40

4,704

1,620

-66

5,047

1,825

-64

Montréal


1,000

988

-1

15,067

30,904

105

16,067

31,892

98

Nanaimo


209

143

-32

72

72

-

281

215

-23

Oshawa


566

848

50

324

120

-63

890

968

9

Ottawa-Gatineau

2,445

1,742

-29

12,348

15,672

27

14,793

17,414

18

  Gatineau


222

288

30

3,708

2,628

-29

3,930

2,916

-26

  Ottawa


2,223

1,454

-35

8,640

13,044

51

10,863

14,498

33

Peterborough

116

159

37

12

0

-100

128

159

24

Québec


1,099

781

-29

8,040

6,816

-15

9,139

7,597

-17

Red Deer


56

116

107

156

120

-23

212

236

11

Regina


301

364

21

720

408

-43

1,021

772

-24

Saguenay


228

242

6

552

180

-67

780

422

-46

St. Catharines-Niagara

557

891

60

4,212

3,696

-12

4,769

4,587

-4

Saint John


302

211

-30

432

60

-86

734

271

-63

St. John's


287

415

45

228

240

5

515

655

27

Saskatoon


778

1,162

49

3,084

240

-92

3,862

1,402

-64

Sherbrooke


343

266

-22

1,224

1,008

-18

1,567

1,274

-19

Thunder Bay

103

158

53

1,116

360

-68

1,219

518

-58

Toronto


3,734

4,849

30

44,964

53,628

19

48,698

58,477

20

Trois-Rivières

126

175

39

120

1,020

##

246

1,195

386

Vancouver


3,168

2,797

-12

27,972

23,064

-18

31,140

25,861

-17

Victoria


286

477

67

7,704

2,100

-73

7,990

2,577

-68

Windsor


321

343

7

1,476

132

-91

1,797

475

-74

Winnipeg


1,270

1,245

-2

4,176

1,908

-54

5,446

3,153

-42

Data for 2022 based on 2016 Census Definitions and data for 2023
based on 2021 Census Definitions.
















Source: CMHC











## not calculable / extreme
value











SOURCE Canada Mortgage and Housing Corporation (CMHC)


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