September 2012 Housing Starts in New Brunswick

MONCTON, NEW BRUNSWICK--(Marketwire - Oct. 9, 2012) - Housing starts in New Brunswick were trending at 3,188 units in September, 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 5,808 units in September, up from 2,853 in August.

"After the first three quarters of the year, both single-detached and multi-family starts have risen from the previous year's totals. In particular, year-to-date multiple starts have increased significantly, due mostly to rental market construction in both Fredericton and Moncton," said Claude Gautreau, CMHC's Senior Market Analyst for New Brunswick.

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, analyzing 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.

Multiple starts added 385 actual units in September of this year compared to 235 units during the same period last year. Single starts, with 97 actual units in September, were down from the 113 units reported last year. Year-to-date total starts have reached 2,075 actual units, bolstered in large part by increased activity in the construction of multi-residential dwellings.

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.

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 graph is available at the following address: http://media3.marketwire.com/docs/nbgraf_eng.pdf

Preliminary Housing Start Data
September / 2011-2012
Province, Centres 10,000+		September 2011	September 2012
Actual, urban centres1
	September - Single-Detached	113	97
	September - Multiples	235	385
	September - Total	348	482
	January to September - Single-Detached	800	850
	January to September - Multiples	1,051	1,225
	January to September - Total	1,851	2,075
		August 2012	September 2012
SAAR2, urban centres1
Total		2,853	5,808
Source: CMHC
1 Urban centres with a population of 10,000 and over.
2 Seasonally Adjusted at Annual Rates
Detailed data available upon request.

New Brunswick Preliminary Actual Housing Start Data
September / 2011-2012
Urban Centres	Single-Detached		Multiples		Total
	2011	2012	2011	2012	2011	2012
Urban Centres 100,000+
Moncton CMA	45	31	108	272	153	303
Saint John CMA	19	17	4	87	23	104
Urban Centres 50,000-99,999
Fredericton	32	30	115	2	147	32
Total Urban Starts1	113	97	235	385	348	482
New Brunswick Preliminary Actual Housing Start Data
January - September / 2011-2012
Urban Centres	Single-Detached		Multiples		Total
	2011	2012	2011	2012	2011	2012
Urban Centres 100,000+
Moncton CMA	288	291	590	835	878	1,126
Saint John CMA	165	147	116	125	281	272
Urban Centres 50,000-99,999
Fredericton CA	250	274	300	200	550	474
Total Urban Starts1	800	850	1,051	1,225	1,851	2,075

¹Urban starts include an estimate for the areas 10,000-49,999 for the first two months in a quarter and are subject to revision(s) after quarterly enumeration in the third and final month of the quarter.

New Brunswick Preliminary Actual Housing Start Data
Third Quarter / 2011-2012
Urban Centres	Single-Detached		Multiples		Total
	2011	2012	2011	2012	2011	2012
Urban Centres 10,000 - 49,999
Bathurst CA	28	20	13	18	41	38
Campbellton CA	3	13	4	0	7	13
Edmundston CA	9	18	4	0	13	18
Miramichi CA	17	18	0	26	17	44
Urban Centres 10,000 - 49,999	57	69	21	44	78	113
New Brunswick Preliminary Actual Housing Start Data
January - September / 2011-2012
Urban Centres	Single-Detached		Multiples		Total
	2011	2012	2011	2012	2011	2012
Urban Centres 10,000 - 49,999
Bathurst CA	48	48	37	39	85	87
Campbellton CA	6	19	4	0	10	19
Edmundston CA	15	31	4	0	19	31
Miramichi CA	28	40	0	26	28	66
Urban Centres 10,000 - 49,999	97	138	47	65	142	203