Canadian Funding Corp. Reviews CMHC Statistics» Starts

CMHC Q4 Housing Starts Up for 2010

admin — Thu, 12 Nov 2009 16:08:17 +0000

Housing starts: After a slow start in 2009, housing starts will become stronger by the end of 2009 and average 141,900 units. In 2010, starts will increase to approximately 164,900 units. The strong pace of resales reflects, in part, activity that was delayed in the previous two quarters of 2009 and is likely not to be sustained. MLS® resales will be about 441,300 units for 2009, up from 433,990 units in 2008.

Housing Starts Move up in March 2009

admin — Tue, 14 Apr 2009 14:18:01 +0000

According to the Canadian Funding Corporation, housing starts (new home construction) is up in March 2009, versus the same period last year. Ontario and Quebec accounted for the majority of the increase.

The Canadian Funding Corporation Reports:

OTTAWA, April 8, 2009 — The seasonally adjusted annual rate of housing starts increased to 154,700 units in March from 136,100 units in February, according to Canada Mortgage and Housing Corporation (CMHC).

“Higher multiple starts in Ontario and Quebec were the main contributors to the rise in new construction activity in March,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “While the multiples segment experienced the largest increase, the overall boost in starts was broad based, encompassing the singles segment as well.”

Moishe Alexander, of the Canadian Funding Corp noted that the seasonally adjusted annual rate of urban starts increased 17 per cent to 127,900 units in March. Urban multiple starts increased 28.3 per cent to 81,500 units, while urban single starts moved up by 1.3 per cent to 46,400 units in March.

March’s seasonally adjusted annual rate of urban starts increased by 35 per cent in Ontario and by 23.3 per cent in Quebec. Urban starts declined by 17.3 per cent in British Columbia, by 7.9 per cent in Atlantic Canada, and by 7.5 per cent in the Prairies.

Rural starts were estimated at a seasonally adjusted annual rate of 26,800 units in March.

New home construction is now at a more sustainable level after having been exceptionally strong over the past 7 years, exceeding 200,000 units per year.

As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable, and affordable homes — homes that will continue to create vibrant and healthy communities and cities across the country.

For more information, please see:

http://www.cmhc-schl.gc.ca/en/corp/nero/nere/2009/2009-04-08-0815.cfm

CFC Covers: Concepts and Definitions from the CMHC Reports

admin — Fri, 27 Mar 2009 01:18:32 +0000

A “start” for the purposes of the Starts and Completions Survey, is defined as the beginning of construction work on a building, usually when the concrete has been poured for the whole of the footing around the structure, or an equivalent stage where a basement will not be part of the structure.

A “completion” is defined as the stage at which all proposed construction work on the building has been performed, although under some circumstances a building may be counted as completed where up to 10 percent of the proposed work remains to be done.

For multiple-dwelling structures, the definition of a Start or a Completion applies to the structure rather than to the individual dwelling units therein.

The number of units “under construction” as at the end of the period shown, takes into account certain adjustments which are necessary for various reasons. For example, after a start on a dwelling has commenced construction may cease, or a structure when completed may contain more or fewer dwelling units than were reported at start.

A dwelling is defined as being “absorbed” when a binding, non-conditional agreement is made to buy or rent the dwelling.

Only new self-contained dwelling units are enumerated in the Starts and Completions Survey, such units being designed for non-transient and year-round occupancy.

CFC Reviews CMHC Survey Coverage

admin — Fri, 27 Mar 2009 01:17:50 +0000

According to the Canadian Funding Corporation, the Starts and Completions Survey is carried out monthly in urban areas with populations in excess of 50,000 as defined by the 2006 Census. In urban areas with populations of 10,000 to 49,999, all Starts are enumerated in the last month of each quarter (i.e. four times a year, in March, June, September and December). In these centres with quarterly enumeration, Completion activity is modelled based on historical patterns. Monthly Starts and Completion activity in these quarterly locations are statistically estimated at a provincial level for single and multi categories. Centres with populations below 10,000 are enumerated on a sample basis, also in the last month of each quarter (i.e. in March, June, September and December).

The Market Absorption Survey is carried out in conjunction with the Starts and Completions Survey in urban areas with populations in excess of 50,000. When a structure is recorded as completed, a report is also made as to whether or not a unit has been sold or rented. The dwellings are then enumerated each month until such time as absorption occurs.

Definitions used by the CMHC

admin — Fri, 27 Mar 2009 01:14:32 +0000

Moishe Alexander of the Canadian Funding Corporation lists a few of the common definitions and abbreviations used by the CMHC in their statistical reports.

Housing Start Volume

Volume A: Starts, Completions, and Under Construction (Canada, Provincial, CMA and Large CA levels)
Volume B: Seasonally-Adjusted Starts (Canada and Provincial)
Volume C: Quarterly Starts, Completions, and Under Construction (Canada and Provincial) (Available at end of Quarter)
Volume D: Apartment Starts and Completions (Canada, Provincial, CMA and Large CA)
Volume E: Starts and Completions by Intended Market (Canada and Provincial)
Volume F: Starts and Completions by Intended Market (CMA and Large CA)
Volume H: Starts, Completions, and Under Construction (Census Subdivision)
Volume I: Market Absorption Statistics (Canada, Provincial, CMA and Large CA)
Volume J: Market Absorption Statistics (Census Subdivision)

Symbols / Signes conventionnels

**     Not available / Non disponible
***    Infinity / Indéfini
+      Less than 1,000 units / Moins de 1 000 unités
-      Nil or Zero / Néant ou zéro
–     Amount too small to be expressed / Chiffre trop petit pour être indiqué
(r)    Revised / Chiffres révisés

Geographical Abbreviations

AR Agglomération de recensement
C City / Cité
CY City
CÉ Cité
CA Census Agglomeration
Com Community
CM County (municipality)
CN Crown Colony/Colonie de la couronne
CMA Census Metropolitan Area
CT Canton (municipalité de)
CU Cantons unis (municipalité de)
DM District municipality
HAM Hamlet
IM Island Municipality
LGD Local Government District
LOT Township and Royalty
M Municipality/Municipalité
MÉ Municipalité
MD Municipal district