Housing starts strong in January

OTTAWA, Feb. 8 /CNW Telbec/ - The seasonally adjusted annual rate(1) ofhousing starts was 249,300 units in January, up from 212,600 units in

December, according to Canada Mortgage and Housing Corporation (CMHC).
   "Historically low mortgage rates, solid employment and income growth, and
a high level of consumer confidence continue to support residential
construction activity," said Bob Dugan, Chief Economist at CMHC's Market
Analysis Centre. "The volatile multiples segment bounced back in January,
accounting for most of the growth this month. Although housing starts are
expected to ease to 209,500 units in 2007, they will remain above the
200,000 mark for the sixth consecutive year."
   January's seasonally adjusted annual rate of urban starts of
216,300 units was up 19.2 per cent from December. Urban multiples surged
31.4 per cent to 124,300 units in January, while singles jumped 5.9 per cent
to 92,000 units.
   Urban starts in January rebounded in all regions, with urban multiple
starts growing at a double-digit pace. Urban singles starts were up overall,
but declined in Quebec and British Columbia. The Atlantic region experienced
the largest percentage increase in urban starts at 36.2 per cent
   Rural starts in January were estimated at a seasonally adjusted annual
rate of 33,000 units.
   Compared to January 2006, actual starts in both rural and urban areas
increased an estimated 12.2 per cent in January 2007 while actual starts in
urban areas only were up an estimated 11.9 per cent. Actual single starts in
urban areas were 14.3 per cent lower in January 2007 than they were a year
earlier, with all regions showing a decline. Actual urban multiple starts in
January 2007 were up 37.7 per cent over January 2006.

   Canada Mortgage and Housing Corporation (CMHC) has been Canada's national
housing agency for more than 60 years. CMHC is committed to helping Canadians
access a wide choice of quality, affordable homes, while making vibrant,
healthy communities and cities a reality across the country. For more
information, visit www.cmhc.ca or call 1-800-668-2642.

   <<
   ----------------------------------
   (1) All starts figures in this release, other than actual starts, are
       seasonally adjusted annual rates (SAAR) - that is, monthly figures
       adjusted to remove normal seasonal variation and multiplied by 12 to
       reflect annual levels.

   (Ce document existe également en français)


                    Housing Starts, Actual and SAAR(*)
   ------------------------------------------------------------------------
   ------------------------------------------------------------------------
                                     Actual                    SAAR
                             ----------------------------------------------
                             January      January     December      January
                                2006         2007         2006         2007
   ------------------------------------------------------------------------
                               Final  Preliminary        Final  Preliminary
   ------------------------------------------------------------------------
   Canada, all areas          13,379       15,009      212,600      249,300
     Canada, rural
      areas                    1,275        1,465       31,100       33,000
     Canada, urban
      centres(xx)             12,104       13,544      181,500      216,300
       Canada, singles,
        urban centres          6,002        5,143       86,900       92,000
       Canada, multiples,
        urban centres          6,102        8,401       94,600      124,300

       Atlantic region,
        urban centres            548          495        6,900        9,400
       Quebec, urban
        centres                2,237        2,391       40,200       42,200
       Ontario, urban
        centres                4,538        4,438       61,100       76,700
       Prairie region,
        urban centres          2,624        3,609       43,400       52,700
       British Columbia,
        urban centres          2,157        2,611       29,900       35,300
   -------------------------------------------------------------------------



   Source: CMHC
   (*)  Seasonally adjusted annual rates
   (xx) Urban centres with a population of 10,000 persons and over.
   Detailed data available upon request.