OTTAWA, ONTARIO--(Marketwired - Dec. 8, 2015) - Housing starts in the Ottawa Census Metropolitan Area (CMA) were trending at 6,162 units in November compared to 5,426 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.

"Housing starts trended higher for all housing types in November compared to the previous month led by purpose-built rental apartment and single-detached home starts. A scale back in condominium starts due to a high level of unsold units, together with some pent-up demand for single-detached homes boosted starts for this dwelling type so far this year," said Anne-Marie Shaker, CMHC's Market Analyst for Ottawa.

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.

In Ottawa, the monthly SAAR measure was 8,169 in November up from 4,798 in October due to a rise in all housing starts but with the strongest increase for low-rise dwellings, especially single-detached home starts. Single-detached starts, which had been trending down as condominium construction gained greater market share, came in at their highest level for the year-to-date compared to the same period since 2011.

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

As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.

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(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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Tables and a graph are available at the following address:

Contact Information:

Media Contact:
Angelina Ritacco, Public Affairs Advisor,
Communications and Marketing
Cell: 647-210-7420