OTTAWA, JULY 11, 2006 The seasonally adjusted annual rate1 of housing starts was 232,200 units in June, up from 222,200 units in May, according to Canada Mortgage and Housing Corporation (CMHC). "Although housing starts moved higher in June, much of the increase came from the volatile multiple segment of the new home market," said Bob Dugan, Chief Economist at CMHC's Market Analysis Centre. "Even with the strong showing in June, housing starts ended the second quarter more than nine per cent below their first quarter level. The bellwether single detached component came in at their second lowest level of the year, only marginally above their May level. We expect the level of activity to moderate in the second half of 2006 as rising prices and marginally higher mortgage rates result in a softening of demand for both existing and new homes." The seasonally adjusted annual rate of urban starts increased 5.2 per cent to 201,100 units. Urban singles were up 1.1 per cent to 92,400 units comparing June to May, while multiples jumped 9.0 per cent to 108,700 units. Urban housing starts increased in June compared to May in all five regions. British Columbia recorded the strongest increase, with urban starts rising 14.8 per cent. The Atlantic region followed closely with starts up 12.3 per cent. In the Prairie region, Ontario, and Quebec, urban starts were up 6.0 per cent, 2.8 per cent, and 0.3 per cent, respectively. Rural starts in June were estimated at a seasonally adjusted annual rate of 31,100 units. In the first six months of 2006, actual urban starts were up 4.8 per cent compared to the same period last year. Year-to-date actual urban multiple starts were up 7.7 per cent and singles were up 1.9 per cent compared to the same period in 2005. Canada Mortgage and Housing Corporation (CMHC) has been Canada's national housing agency for over 60 years. CMHC is committed to helping Canadians access a wide choice of quality, affordable homes, while making vibrant, healthy communities and cities a reality across the country. For more information call 1-800-668-2642. 1 All starts figures in this release, other than actual starts, are seasonally adjusted annual rates (SAAR) that is, monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels. Information on this release: Bob DuganCMHC613-748-4009bdugan@cmhc-schl.gc.ca For regional starts information contact: Atlantic provinces: David McCullochCMHC902-426-8465dmccullo@cmhc-schl.gc.ca Quebec: Kevin HughesCMHC514-283-4488khughes@cmhc-schl.gc.ca Ontario: Ted TsiakopoulosCMHC416-218-3407ttsiakop@cmhc-schl.gc.ca Prairie provinces: Richard CorriveauCMHC403-515-3005rcorrive@cmhc-schl.gc.ca British Columbia: Carol FrketichCMHC604-737-4067cfrketic@cmhc-schl.gc.ca Housing Starts, Actual and SAAR* Actual SAAR June 2005 June 2006 May 2006 June 2006 Final Preliminary Final Preliminary Canada, all areas 22,852 22,678 222,200 232,200 Canada, rural areas 3,398 3,119 31,100 31,100 Canada, urban centres** 19,454 19,559 191,100 201,100 Canada, singles, urban centres 10,108 9,575 91,400 92,400 Canada, multiples, urban centres 9,346 9,984 99,700 108,700 Atlantic region, urban centres 962 1,163 8,100 9,100 Quebec, urban centres 3,520 3,138 36,900 37,000 Ontario, urban centres 9,167 7,671 71,000 73,000 Prairie region, urban centres 3,324 4,951 48,100 51,000 British Columbia, urban centres 2,481 2,636 27,000 31,000 Source: CMHC*Seasonally adjusted annual rates** Urban centres with a population of 10,000 persons and over.Detailed data available upon request.
