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NATIONAL housing starts
rose 2.2% in September
according to Canada
Mortgage and Housing
Corporation (CMHC).

Total starts reached a sva-
sonally adjusted annual rate
(SAAR) of 131,600. units, up
from the August rate’ of
128,800 units.

Starts of multiple dwelliugs
rose 6.4% to 48,300 units
(SAAR) in September, from
45,400 units in August. Starts
of single-detached units were
essentially unchanged ar
59,600 units (SAAR), com-
pared with 59,700 units in
August.

“The recent decrease in
mortgage rates and continued
lower prices of new homes will
support further gains in the
honie ownership market,” said
Michel Laurence, senior econ-

SUSSEX|

omist at CMHC's Marker
Analysis Centre.

Starts in Toronto lifted the
Ontario total by 8.1% in
September relative to August
or a SAAR basis, Multiple con-
st-uction rose 20.1% while sin-
g.¢ construction maintained its
August pace. The increase in
multiple units reflected higher
activity in both rentals and
condominiums.

Urban starts rose in British
Columbia by 3.9% (SAAR) in
September “compared with
August. Both the single-
detached and the multiples
markets contributed to the
increase. While there were
fewer condominium starts in
the Vancouver area, activity in
this segment is still strong.

The seasonally adjusted
level of Quebec urban starts in
September was similar to that

in August. Starts of single
dwellings declined while multi.
ple units rose. Montreal multi-
ple building fed the province,
New condominium apartment
construction was up in many
urban centres,

SAAR urban starts declined
in two of the three Prairie
provinces from’ August to
September, Starts. increased
only in Manitoba, but actiy
remained well ahead of ast
year’s pace in Saskatchewan
and Alberta,

In the Atlantic region,
urban starts rose 3.6% (SAAR)
in September relative to
August. Month over month
gains in Newfoundland and
Prince Edward Island were
partly offset by losses in New
Brunswick. Building activity in
Nova Scotia maintained ‘the
previous month’s pace.

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