Real Estate — November 8, 2012

October 2012 Housing Starts in Barrie

TORONTO, ONTARIO--(Marketwire - Nov. 8, 2012) - Housing starts in the Barrie Census Metropolitan Area (CMA) were trending at 885 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. The standalone monthly SAAR was 537 units in October, up from 464 in September.

"Housing demand is sufficient to keep housing starts growing in the Barrie CMA. Compared to larger centres, single-detached homes are less expensive in Barrie making them the preferred choice for buyers," said Abdellah Massaoudi, CMHC's Market Analyst for Barrie.

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.

Single-detached starts added 36 actual units in October 2012. Other housing starts totalled 13 actual units in October up from eight units reported in October of last year. Year-to-date, housing starts reached 670 with more single-detached homes were built compared to last year. Across the zones in the CMA, Innisfil Township continues to build more single-detached than the City of Barrie.

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.

(Ce document existe également en français)

A graphic is available at the following address: http://media3.marketwire.com/docs/CMHC_Barria1107.pdf

Preliminary Housing Start Data
October/ 2011-2012
Barrie, CMA1 October 2011 October 2012
Actual
October- Single-Detached 27 36
October- Multiples 8 13
October- Total 35 49
January to Oct- Single-Detached 306 399
January to October - Multiples 338 271
January to October- Total 644 670
September 2012 October 2012
SAAR2
Total 464 537
Source: CMHC
1 Census Metropolitan Area
2 Seasonally Adjusted at Annual Rates
Detailed data available upon request.
Barrie Preliminary Actual Housing Start Data by Type
October/ 2011-2012
Barrie, CMA1 Single Semi Row Apt
Total
2011 2012 2011 2012 2011 2012 2011 2012 2011 2012
List of Zones
Barrie C 6 14 0 0 8 13 0 0 14 27
Innisfil TP 19 15 0 0 0 0 0 0 19 15
Springwater TP 2 7 0 0 0 0 0 0 2 7
Total Barrie Starts 27 36 0 0 8 13 0 0 35 49
Barrie Preliminary Actual Housing Start Data by Type
Year to Date / 2011-2012
Barrie, CMA1 Single Semi Row Apt
Total
2011 2012 2011 2012 2011 2012 2011 2012 2011 2012
List of Zones
Barrie C 151 164 0 4 48 135 267 90 466 393
Innisfil TP 103 188 0 0 22 18 0 0 125 206
Springwater TP 52 47 1 0 0 0 0 24 53 71
Total Barrie Starts 306 399 1 4 70 153 267 114 644 670
1Census Metropolitan Area

Contact Information

Market Analysis Contact:
Canada Mortgage and Housing Corporation
Abdellah Massaoudi
416-218-3461
amassaou@cmhc.ca

Media Contact:
Canada Mortgage and Housing Corporation
Beth Bailey
416-218-3355
Cell: 416-988-4615
Bbailey@cmhc.ca

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