December 2015 Housing Starts in Peterborough

TORONTO, ONTARIO--(Marketwired - Jan. 11, 2016) - Housing starts in the Peterborough Census Metropolitan Area (CMA) were trending down at an annualized rate of 434 units in December compared to 475 in November, 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.

"The trend in housing starts moved lower in December after trending continuously higher for most of the year. The actual number of housing starts in 2015 totalled 365 units, a substantial increase over the previous year. Starts of single-detached and row homes accounted for most of the increase and were concentrated in the City of Peterborough and Otonabee-South Monaghan Township," said Olga Golozub, CMHC's Market Analyst for Peterborough. "The tightness of the resale market during the last year meant more spill-over of demand into the new home ownership market."

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. The multi-unit segment includes apartment, row and semi-detached homes.

The more volatile SAAR measure of total housing starts was 210 units in December down from 420 units in November due to decreases in single-detached and row home starts.

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.

For more information, visit our website at www.cmhc.ca or follow us on Twitter, YouTube, LinkedIn and Facebook.

Additional data is available upon request.

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Tables and a graph are available at the following address: http://media3.marketwire.com/docs/PeterENG.pdf