Housing Starts in Montréal in December 2015

MONTRÉAL, January 11, 2016 — Housing starts in the Montréal census metropolitan area (CMA) were trending at 24,017 units in December, compared to 24,183 in November. The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

“In December, the trend remained relatively high compared to the levels observed over the past few years in the Montréal metropolitan area. Again, the activity was supported by the start of rental housing projects, such that total rental housing starts for 2015 rose by nearly 80 per cent over 2014,” said David L’Heureux, CMHC’s Principal, Market Analysis, for Montréal.

“This increase was attributable to the construction of seniors’ housing residences, but also to the significant climb in conventional rental housing starts. In fact, with the important slowdown in activity on the condominium market and the relatively low vacancy rates in newer rental buildings, many developers are turning to the conventional rental housing segment,” he added.

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, analyzing 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 stand-alone monthly SAAR was 24,161 units in December, up from 18,732 in November. The significant variation in the annual rate was due to an increase in starts in the rental housing segment.

Preliminary housing starts data is also available in English and French at the following link:
Preliminary Housing Starts Tables.

As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.

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Information on this release:

Media Contact

Catherine Léger
514-283-7972
cleger@cmhc.ca

Additional data is available upon request.


Preliminary Housing Start Data
December 2015
Montréal CMA1 November 2015 December 2015
Trend2 24,183 24,017
SAAR 18,732 24,161
  December 2014 December 2015
Actual    
December — Single-detached 159 192
December — Multiples 1,287 1,819
December — Total 1,446 2,011
January to December — Single-detached 2,677 2,402
January to December — Multiples 15,995 16,342
January to December — Total 18,672 18,744

Source: CMHC
1 Census Metropolitan Area
2 The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR).
Detailed data available upon request

Montreal Preliminary Actual Housing Start Data by Intended Market
December / 2014-2015
Montreal, CMA1 Freehold-Single2 Freehold-Multi2 Rental Condo Total
  2014 2015 2014 2015 2014 2015 2014 2015 2014 2015
Montreal Island 7 12 15 13 135 22 483 205 640 252
Laval 13 8 11 15 12 229 28 6 64 258
North-Shore 74 91 20 17 57 79 277 90 428 277
South-Shore 49 63 63 69 10 426 110 279 232 837
Vaudreuil-Soulanges 16 18 28 4 0 300 38 65 82 387
Total Montreal CMA Starts 159 192 137 118 214 1,056 936 645 1,446 2,011

Source: CMHC
1 Census Metropolitan Area
2 Freehold homes refer to dwellings where the owner also holds the title of ownership to the land (single-detached houses and the following multiple-unit housing types: semi-detached houses, row homes and duplexes).
Detailed data available upon request.

Montreal Preliminary Actual Housing Start Data by Intended Market
Year to Date / 2014-2015
Montreal, CMA1 Freehold-Single2 Freehold-Multi2 Rental Condo Total
  2014 2015 2014 2015 2014 2015 2014 2015 2014 2015
Montreal Island 160 162 270 153 1,924 1,649 6,123 3,899 8,477 5,863
Laval 220 174 165 130 104 876 538 785 1,027 1,965
North-Shore 1,368 1,103 388 350 1,000 2,183 1,876 1,363 4,632 4,999
South-Shore 683 667 505 519 859 2,107 1,643 1,516 3,690 4,809
Vaudreuil-Soulanges 246 294 171 141 93 376 336 297 846 1,108
Total Montreal CMA Starts 2,677 2,400 1,499 1,293 3,980 7,191 10,516 7,860 18,672 18,744

Source: CMHC
1 Census Metropolitan Area
2 Freehold homes refer to dwellings where the owner also holds the title of ownership to the land (single-detached houses and the following multiple-unit housing types: semi-detached houses, row homes and duplexes).
Detailed data available upon request.

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