Ontario June 2011 Housing Starts

Posted on July 11, 2011 by Peter House

OTTAWA, July 11, 2011 — The seasonally adjusted annual rate1 of housing starts was 197,400 units in June, according to Canada Mortgage and Housing Corporation (CMHC). This is up from a revised 194,100 units in May 2011. April 2011 has also been revised to 194,100 units.

“Housing starts increased in June due to an increase in single and multiple starts in Ontario,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “The revised numbers show that housing starts have been above their trend line since March. However, we expect housing starts to move back towards levels consistent with demographic fundamentals in the near term.” Continue reading →

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News: Canada’s Rental Vacancy Rate Decreases

Posted on June 9, 2011 by Peter House

OTTAWA, June 9, 2011 — The average rental apartment vacancy rate in Canada’s 35 major centres1 decreased slightly to 2.5 per cent in April 2011, from 2.9 per cent in April 2010, according to the spring Rental Market Survey2 released today by Canada Mortgage and Housing Corporation (CMHC).

for rent“Immigration continues to be a factor in supporting rental housing demand. Recent immigrants tend to rent first before becoming homeowners,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “In addition, condominium completions moved lower in the past months, while rental apartment unit completions remained relatively stable. As a result, the overall demand for rental apartment units increased faster than supply for this type of housing. Accordingly, this pushed Canada’s vacancy rate downward. “

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