OTTAWA, ONTARIO--(Marketwire - Dec. 10, 2012) - Housing starts in Ottawa, Census Metropolitan Area (CMA) were trending at 4,782 units in November, 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 3,942 units in November up from 3,484 units in October.

"Housing starts activity recovered slightly in November fuelled by a rise in multiple starts, particularly row housing units, which captured one third of the market. Notwithstanding, the year-to-date low rise starts figure came in close to 23 per cent lower than a year earlier with semi-detached dwellings leading the decline" Sandra Pérez Torres, Senior Market Analyst for Eastern and Northern Ontario.

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.

The bulk of the starts construction was concentrated in Kanata, followed closely by Cumberland with Kanata recording a 50 percent increase in multiple starts compared to the same time last year. Together the two areas captured almost half of all Ottawa starts with multiple starts having the lion`s share in each of those areas. Despite the mid-year rise in apartment construction inside the Greenbelt, activity outside the Greenbelt continued to remain on solid ground. Multiples outside the Greenbelt gained an increasing share reflecting the Ottawa-wide preference shift.

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.

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

Preliminary Housing Start Data
November / 2011-2012
Ottawa, CMA1			November 2011	November 2012
	Actual
		November - Single-Detached	289	119
		November - Multiples	264	247
		November - Total	553	366
		January to Nov. - Single-Detached	1,891	1,460
		January to Nov. - Multiples	3,340	4,184
		January to Nov. - Total	5,231	5,644
			October 2012	November 2012
	SAAR2
		Total	3,484	3,942

Source: CMHC

1 Census Metropolitan Area

2 Seasonally Adjusted at Annual Rates

Detailed data available upon request.

Ottawa CMA Preliminary Actual Housing Start Data
November / 2011-2012
Ottawa, CMA1		Single-Detached		Multiples		Total
		2011	2012	2011	2012	2011	2012
List of Zones
Old Ottawa, Vanier, Rockcliffe		22	9	32	30	54	39
Cumberland		78	14	23	65	101	79
Nepean		63	3	34	45	97	48
Kanata		13	6	40	87	53	93
Goulbourn		23	9	0	0	23	9
Gloucester		41	24	94	18	135	42
Osgoode		7	9	28	0	35	9
Rideau		5	2	0	0	5	2
Other2		37	43	13	2	50	45
	Total Ottawa CMA Starts	289	119	264	247	553	366
Ottawa CMA Preliminary Actual Housing Start Data
Year to Date / 2011-2012
Ottawa, CMA1		Single-Detached		Multiples		Total
		2011	2012	2011	2012	2011	2012
List of Zones
Old Ottawa, Vanier, Rockcliffe		102	85	824	1,912	926	1,997
Cumberland		345	238	420	399	765	637
Nepean		479	318	911	729	1,390	1047
Kanata		146	73	413	607	559	680
Goulbourn		200	149	152	57	352	206
Gloucester		232	256	421	388	653	644
Osgoode		73	86	90	2	163	88
Rideau		39	19	0	0	39	19
Other2		275	236	109	90	384	326
	Total Ottawa CMA Starts	1,891	1,460	3,340	4,184	5,231	5,644

1Census Metropolitan Area

2Includes: West Carleton, Clarence-Rockland and Russell