Real Estate — January 9, 2013December 2012 Housing Starts in St. Catharines-Niagara
TORONTO, ONTARIO--(Marketwire - Jan. 9, 2013) - Housing starts in St. Catharines-Niagara, Census Metropolitan Area (CMA) were trending at 1,331 units in December, 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 2,718 units in December, up from 1,244 in November.
"Monthly housing starts were up significantly in December", said Paul Tessaro, CMHC's Market Analyst for St. Catharines-Niagara. "The high rate of construction activity in December raised housing starts for 2012 just above 2011 starts. At the end of November 2012, starts were only at 89 per cent of year-to-date starts in 2011. The increase in starts in December was primarily due to apartment construction."
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 63 actual units in December 2012. Multiple starts totalled 158 actual units in December. Year-to-date starts have reached 1,137 actual units, with single-detached construction representing roughly 60 per cent of all starts.
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.
Follow CMHC on Twitter @CMHC_ca.
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.
(Ce document existe également en français)
To view the tables and graph associated with this press release, please visit the following link: http://media3.marketwire.com/docs/a845519.pdf.
Latest Industry Press Releases
Superior Plus Announces December 2013 Cash Dividend (2013-12-05)
|MOST POPULAR STORIES|
|TODAY’S TOP CONSTRUCTION PROJECTS|
These projects have been selected from 333 projects with a total value of $13,209,890,621 that Reed Construction Data Building Reports reported on Thursday.
$150,000,000 Toronto ON Negotiated
$35,000,000 Chatham ON Negotiated
$26,000,000 Sudbury ON Tenders
- Potential hiring quotas overshadow infrastructure act
- GO Green
- P3 mega bridges require mega planning
- New charges needed for infrastructure
- Karakatsanis one of Canada’s powerful women
- Gerard McDonald new Professional Engineers Ontario registrar
- Oshawa urban design awards nominations open
- U.S. construction spending hits highest level in four years
- Amount of leased industrial/retail and office properties increases
- Residential sales in the GTA on the rise
- Tunnelling of the Toronto-York Spadina Subway Extension completed
- VIDEO: Journal of Commerce Update for the week of December 9th, 2013
- Vandals cause nearly $250,000 in water damage
- Construction cut back in latest B.C. budget update
- Alberta and Manitoba led the pack for labour productivity
- Feds infrastructure commitment re-affirmed
- Infrastructure impacted by climate change
- West End Residential rises
- Changing procurement impacts felt
- Aurora LNG files export bid
- New Brunswick premier touts pipeline jobs