Housing starts in Canada decline in July
Countrywide housing starts decreased in July, Canada Mortgage and Housing Corporation revealed Tuesday.
The seasonally adjusted rate was 132,100 for the month, according to data from the Crown corporation. That's down from June's 137,800 figure.
Urban starts decreased 5.5 per cent to 113,500 units in July, while rural starts were estimated at 18,600 units, down from 20,600 the previous month.
| City | % change in housing starts, July 2008 to July 2009 |
|---|---|
| Vancouver | -73 |
| Kelowna, B.C. | -69 |
| Edmonton | 11 |
| Calgary | -14 |
| Saskatoon | -24 |
| Regina | -80 |
| Winnipeg | -29 |
| Toronto | -20 |
| Kitchener, Ont. | 17 |
| Ottawa | -15 |
| Montreal | -18 |
| Quebec | 58 |
| Trois-Rivières, Que. | 109 |
| Halifax | -38 |
| St. John's | 7 |
| Saint John | -55 |
Source: CMHC
Most of that decline came from multiple starts, which decreased nine per cent to 61,000 units. Multiple starts are buildings expected to house numerous dwellings, such as condominiums. Single starts were down 1.1 per cent.
Demand expected to rise
The agency estimates demographic demand for housing should be roughly 175,000 units per year, and it expects the number of starts to become more closely aligned to that in the next several years.
"Although July registered a decline, housing starts are expected to improve throughout 2009," CMHC chief economist Bob Dugan said.
Regionally, urban starts increased 16.6 per cent in Quebec, but declined:
- 17 per cent in the Prairies.
- 15 per cent in Ontario.
- 10 per cent in British Columbia.
- 1.4 per cent in Atlantic Canada.