Construction/Building — January 9, 2013

December 2012 Housing Starts in New Brunswick

MONCTON, NEW BRUNSWICK--(Marketwire - Jan. 9, 2013) - Housing starts in New Brunswick were trending at 2,806 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 1,640 units in December, down from 2,178 in November.

"The trend in residential construction activity in New Brunswick's urban centres in December highlighted a moderate deceleration in activity compared to the previous month," said Claude Gautreau, CMHC's Senior Market Analyst for New Brunswick. "Total actual housing starts for the year were up from last year's total, in large part due to strong construction activity in the Greater Moncton rental market," continued Gautreau.

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.

Multiple starts added 32 actual units in December of this year compared to 120 units during the same period last year. Single starts, with 91 actual units in December, were up slightly from the 84 units reported a year ago. For the year, total starts were up 3 per cent to 2,543 actual units, supported in large part by increased activity in the construction of multi-residential dwellings.

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

(Ce document existe également en français)

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

Preliminary Housing Start Data
December 2012
Province, Centres 10,000+ December 2011 December 2012
Actual, urban centres1
December - Single-Detached 84 91
December - Multiples 120 32
December - Total 204 123
January to December - Single-Detached 1,072 1,097
January to December - Multiples 1,387 1,446
January to December - Total 2,459 2,543
November 2012 December 2012
SAAR2, urban centres1
Total 2,178 1,640
Source: CMHC
1 Urban centres with a population of 10,000 and over.
2 Seasonally Adjusted at Annual Rates
Detailed data available upon request.

New Brunswick Preliminary Actual Housing Start Data
December / 2011-2012
Urban Centres Single-Detached Multiples Total
2011 2012 2011 2012 2011 2012
Urban Centres 100,000+
Moncton CMA 34 30 97 18 131 48
Saint John CMA 19 16 0 6 19 22
Urban Centres 50,000-99,999
Fredericton 21 32 23 6 44 38
Total Urban Starts1 84 91 120 32 204 123
New Brunswick Preliminary Actual Housing Start Data
January to December / 2011-2012
Urban Centres Single-Detached Multiples Total
2011 2012 2011 2012 2011 2012
Urban Centres 100,000+
Moncton CMA 384 364 810 933 1,194 1,297
Saint John CMA 220 190 141 165 361 355
Urban Centres 50,000-99,999
Fredericton CA 339 367 391 267 730 634
Total Urban Starts1 1,072 1,097 1,387 1,446 2,459 2,543
New Brunswick 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
Bathurst CA 12 11 0 10 12 21
Campbellton CA 4 5 0 0 4 5
Edmundston CA 3 3 0 4 3 7
Miramichi CA 13 19 0 2 13 21
Urban Centres 10,000 - 49,999 32 38 0 16 32 54
New Brunswick 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
Bathurst CA 60 59 37 49 97 108
Campbellton CA 10 24 4 0 14 24
Edmundston CA 18 34 4 4 22 38
Miramichi CA 41 59 0 28 41 87
Urban Centres 10,000 - 49,999 129 176 45 81 174 257

Contact Information

Market Analysis Contact:
Claude Gautreau
506-851-2742
Cell: 506-866-9002
cgautrea@cmhc-schl.gc.ca

Media Contact:
Patricia Montreuil
506-851-2229
Cell: 506-866-8047
pmontreu@cmhc.ca

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