Construction/Building — January 9, 2013

December 2012 Housing Starts in St. John's

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - Jan. 9, 2013) - Housing starts in St. John's, Census Metropolitan Area (CMA) were trending at 2,225 units in December, 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 2,182 units in December, up from 2,150 in November.

"For 2012, single starts were flat while multiple starts advanced considerably, resulting in a 12 per cent increase in total new home construction activity throughout the St. John's area. Growth in population, income and employment, paired with favourable mortgage rates, supported housing demand throughout the year," said Chris Janes, CMHC's Senior Market Analyst for St. John's.

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.

Single-detached starts added 120 actual units in December compared to 104 units a year ago. Multiple starts totalled 70 actual units in December versus 27 units in December of 2011. For 2012, total starts reached 2,153 actual units, with 1,292 singles and 861 multiples. Overall, total starts were 12 per cent ahead of 2011's pace.

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.

Follow CMHC on Twitter @CMHC_ca

(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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Preliminary Housing Start Data
December 2012
St. John's, CMA1 December
2011
December
2012
Actual
December - Single-Detached 104 120
December - Multiples 27 70
December - Total 131 190
January to December - Single-Detached 1,304 1,292
January to December - Multiples 619 861
January to December - Total 1,923 2,153
November
2012
December
2012
SAAR2
Total 2,150 2,182
Source: CMHC
1 Census Metropolitan Area
2 Seasonally Adjusted at Annual Rates
Detailed data available upon request.
Newfoundland Preliminary Actual Housing Start Data
Fourth Quarter / 2011-2012
Urban Centres Single-Detached Multiples Total
2011 2012 2011 2012 2011 2012
Urban Centres 10,000 - 49,999
Bay Roberts CA 19 27 0 0 19 27
Corner Brook CA 15 16 16 4 31 20
Gander CA 8 18 6 8 14 26
Grand Falls/Windsor CA 17 17 4 22 21 39
Urban Centres 10,000 - 49,999 59 78 26 34 85 112
Newfoundland Preliminary Actual Housing Start Data
January to December / 2011-2012
Urban Centres Single-Detached Multiples Total
2011 2012 2011 2012 2011 2012
Urban Centres 10,000 - 49,999
Bay Roberts CA 84 85 0 11 84 96
Corner Brook CA 62 62 20 45 82 107
Gander CA 67 53 76 34 143 87
Grand Falls/Windsor CA 62 55 28 46 90 101
Urban Centres 10,000 - 49,999 275 255 124 136 399 391

Contact Information

Market Analysis Contact:
Chris Janes
709-772-2403
Cell: 709-743-4636
cjanes@cmhc.ca

Media Contact:
Caroline Arsenault
902-426-8127
Cell: 902-452-4448
cmarsena@cmhc.ca

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