February 2016 Housing Starts in Montréal

MONTRÉAL, March 8, 2016 — Housing starts in the Montréal census metropolitan area (CMA) were trending at 22,011 units in February compared to 21,739 in January according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

“Housing starts in the Montréal area were trending higher in February, essentially as a result of the start of construction of some major rental housing projects, mostly in downtown Montréal, and the construction of many seniors’ housing units,” said Francis Cortellino, CMHC’s Principal, Market Analysis, for Montréal.

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 15,183 units in February, up from 12,046 in January. The significant variation in the annual rate was due to the multiple-unit housing segment, where notable fluctuations are often observed from one month to the next.

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.

*SAAR: Seasonally Adjusted Annual Rate

    Preliminary Housing Start Data
    February 2016  
Montréal CMA1 January 2016 February 2016
Trend2 21,739 22,011
SAAR 12,046 15,183
  February 2015 February 2016
Actual    
February — Single-detached 90 75
February — Multiples 280 1,039
February — Total 370 1,114
January to February — Single-detached 173 150
January to February — Multiples 1,057 1,822
January to February — Total 1,230 1,972

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
February 2015-2016  
Montreal, CMA1 Freehold-Single2 Freehold-Multi2 Rental Condo Total
  2015 2016 2015 2016 2015 2016 2015 2016 2015 2016
Montreal Island 3 3 4 6 8 707 33 85 48 801
Laval 10 8 14 0 8 15 7 0 39 23
North-Shore 44 38 10 18 28 4 62 13 144 73
South-Shore 23 16 0 52 13 67 93 48 129 183
Vaudreuil-Soulanges 10 10 0 0 0 6 0 18 10 34
Total Montreal CMA Starts 90 75 28 76 57 799 195 164 370 1,114

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 / 2015-2016
Montreal, CMA1 Freehold-Single2 Freehold-Multi2 Rental Condo Total
  2015 2016 2015 2016 2015 2016 2015 2016 2015 2016
Montreal Island 12 10 34 24 11 833 377 133 434 1,000
Laval 13 12 26 2 174 36 51 226 264 276
North-Shore 78 79 18 55 97 37 87 43 280 214
South-Shore 40 33 16 64 63 174 93 171 212 442
Vaudreuil-Soulanges 30 16 10 0 0 6 0 18 40 40
Total Montreal CMA Starts 173 150 104 145 345 1,086 608 591 1,230 1,972

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).

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