October 2012 Housing Starts in Barrie

Real Estate — November 8, 2012

TORONTO, ONTARIO--(Marketwire - Nov. 8, 2012) - Housing starts in the Barrie Census Metropolitan Area (CMA) were trending at 885 units in October, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)¹ of housing starts. The standalone monthly SAAR was 537 units in October, up from 464 in September.

"Housing demand is sufficient to keep housing starts growing in the Barrie CMA. Compared to larger centres, single-detached homes are less expensive in Barrie making them the preferred choice for buyers," said Abdellah Massaoudi, CMHC's Market Analyst for Barrie.

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 the state of the housing market. In some situations, analysing only SAAR data can be misleading in some markets, as they are largely driven by the multiples segment of the markets which can be quite variable from one month to the next. The multiples segment includes apartments, rows and semi-detached homes.

Single-detached starts added 36 actual units in October 2012. Other housing starts totalled 13 actual units in October up from eight units reported in October of last year. Year-to-date, housing starts reached 670 with more single-detached homes were built compared to last year. Across the zones in the CMA, Innisfil Township continues to build more single-detached than the City of Barrie.

Preliminary Housing Starts data is also available in English and French at the following link: Preliminary Housing Starts Tables

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of 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.

¹ All starts figures in this release, other than actual starts and the trend estimate, are seasonally adjusted annual rates (SAAR) - that is, monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels. By removing seasonal ups and downs, seasonal adjustment allows for a comparison from one season to the next and from one month to the next. Reporting monthly figures at annual rates indicates the annual level of starts that would be obtained if the monthly pace was maintained for 12 months. This facilitates comparison of the current pace of activity to annual forecasts as well as to historical annual levels.

Additional data is available upon request.

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A graphic is available at the following address: http://media3.marketwire.com/docs/CMHC_Barria1107.pdf

Preliminary Housing Start Data
October/ 2011-2012
Barrie, CMA¹			October 2011	October 2012
	Actual
		October- Single-Detached	27	36
		October- Multiples	8	13
		October- Total	35	49
		January to Oct- Single-Detached	306	399
		January to October - Multiples	338	271
		January to October- Total	644	670
			September 2012	October 2012
	SAAR²
		Total	464	537

Source: CMHC

¹ Census Metropolitan Area

² Seasonally Adjusted at Annual Rates

Detailed data available upon request.

Barrie Preliminary Actual Housing Start Data by Type
October/ 2011-2012
Barrie, CMA¹	Single		Semi		Row		Apt		Total
	2011	2012	2011	2012	2011	2012	2011	2012	2011	2012
List of Zones
Barrie C	6	14	0	0	8	13	0	0	14	27
Innisfil TP	19	15	0	0	0	0	0	0	19	15
Springwater TP	2	7	0	0	0	0	0	0	2	7

Total Barrie Starts	27	36	0	0	8	13	0	0	35	49

Barrie Preliminary Actual Housing Start Data by Type
Year to Date / 2011-2012
Barrie, CMA¹	Single		Semi		Row		Apt		Total
	2011	2012	2011	2012	2011	2012	2011	2012	2011	2012
List of Zones
Barrie C	151	164	0	4	48	135	267	90	466	393
Innisfil TP	103	188	0	0	22	18	0	0	125	206
Springwater TP	52	47	1	0	0	0	0	24	53	71

Total Barrie Starts	306	399	1	4	70	153	267	114	644	670

¹Census Metropolitan Area

Contact Information

Market Analysis Contact:
Canada Mortgage and Housing Corporation
Abdellah Massaoudi
416-218-3461
amassaou@cmhc.ca

Media Contact:
Canada Mortgage and Housing Corporation
Beth Bailey
416-218-3355
Cell: 416-988-4615
Bbailey@cmhc.ca