Canada continues to build new homes at a relatively unchanged pace according to new housing starts data from the Canada Mortgage and Housing Corporation (CMHC).
July saw housing starts in Canada trending at 187,416 compared to 182,142 in June. The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
Last month, the standalone monthly SAAR was 192,853 units, a slight drop from 193,797 in June. Urban areas saw a 2.1 per cent decrease in starts with a SAAR of 173,042 units in July. The decrease is largely due to the 5.5 per cent drop off in single urban starts which fell to to 58,731 units. Multiple urban starts were relatively unchanged at 114,311 units.
The only region to see a boost in the SAAR for urban starts was British Columbia while all other regions – Atlantic Canada, the Prairies, Ontario and Quebec – saw a drop in building.
Here’s how some of the larger cities fared in terms of actual starts in July:
- Winnipeg saw a 127 per cent jump in housing starts last month compared to the same time in 2012.
- Ottawa-Gatineau experienced a 103 per cent boom in actual starts in July.
- Saskatoon measured a 75 per cent increase in housing starts from July 2013 to July 2012.
- Halifax housing starts were up by 58 per cent.
- Calgary saw a 52 per cent gain in actual starts in July.
- Vancouver posted a 40 per cent gain.
- Actual starts in St. John fell by 11 per cent in July.
- Housing starts in Victoria declined by 20 per cent last month.
- Hamilton saw a 21 per cent drop in actual starts in July 2013.
- Edmonton posted a 25 per cent decrease in starts last month compared to the same time the year before.
- Regina saw a decline of 29 per cent.
- Montreal registered a 31 per cent decline in starts, year-over-year last month.
- Housing starts in Toronto fell by 39 per cent last month.
- St. John’s saw starts drop by 44 per cent.
- Quebec City’s actual starts fell by 45 per cent, year-over-year in July.