Housing starts edge higher in June

Housing starts increased in June to 183,959 units in June, compared to 179,908 in May.

The figures from Statistics Canada are trend measure of a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts and complements the standalone monthly SAAR data.

That data shows 202,818 units in June, up from 196,981 units in May. The SAAR of urban starts increased by 3.2 per cent in June to 188,720 units.

Multi-unit urban starts increased by 3.7 per cent to 130,933 units in June, while the single-detached urban starts segment increased by 2.0 per cent to 57,787 units.

The seasonally adjusted annual rate of urban starts increased in British Columbia, Québec, the Prairies and Atlantic Canada, while it decreased in Ontario.

Bob Dugan, CMHC’s chief economist, said: “The rise in the trend of multiple starts reflects a 53 per cent increase in seasonally adjusted multiple starts from February to June 2015.”

Dugan said that, although the multiple-starts figure is at the highest level since September 2012, it is expected to moderate over the coming months.

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