Ottawa housing starts fall 57 per cent
Ottawa housing starts fall 57 per cent
February decline to 137 units compares with 317 last year
By Bert Hill, The Ottawa Citizen; with files from The Financial PostMarch 10, 2009
Ottawa house construction starts tumbled 57 per cent in February as the Canadian real estate market continued to weaken amid a deepening economic downturn and high unemployment.
Canada Mortgage and Housing Corp. said that work started on just 137 units, compared with 317 units a year earlier.
The single biggest decline was in apartment units, where there was no construction starts during February compared with 56 units a year earlier.
Construction starts fell 59 per cent on single-family houses and 36 per cent on row-housing units.
So far this year, housing starts are down 33 per cent to 819 units compared with the first two months of 2008.
"Although the pace of residential construction activity during February was low, it is consistent with CMHC's forecast for starts going forward," said analyst Sandra Pere Torres. "Housing construction will slow this year, but not match the downturn experienced in the early 1990s."
In Gatineau, however, construction more than doubled to 190 units in February as multiple-unit starts almost tripled and single-housing starts rose 40 per cent. However, for the first two months of the year, starts are up a more modest 15 per cent to 384 units.
Across Canada, meanwhile, housing starts fell a more-than-expected 12 per cent last month.
CMHC said there were 134,600 housing starts in February, down from 153,500 units in January, on a seasonally adjusted annual basis.
Most economists had expected housing starts to total 145,000 in February.
"Increased listings and reduced sales in the existing home market continue to impact the new home market," said CMHC chief economist Bob Dugan.
"The decrease in February housing starts is partly attributable to the volatile multiple starts segment," he said. "In any given month and given its relative importance, the volatility of the multiple starts segment can exaggerate monthly movements up or down in the rate of housing starts."
Urban construction fell 14.9 per cent to 107,800 units in February, with multiple starts falling 17.5 per cent to 63,300 and single-unit activity dropping 11 per cent to 44,500.
The decline in urban construction was felt in all regions of Canada, except Atlantic Canada, where starts rose by 10.8 per cent, CMHC said. The biggest declines were in Quebec, down 19.6 per cent, Ontario, off 14.4 per cent, the Prairies, 19.4 per cent lower, and British Columbia, down 12.8 per cent.
Rural starts in February were unchanged from the previous month at 26,800 units.
Home construction "is slowing to more sustainable levels," CMHC said. "These decreases, however, should be viewed in the context that housing starts have been exceptionally strong over the past seven years, exceeding 200,000 units per year."
Millan Mulraine, economics strategist at TD Securities, said the "recent slew of housing-sector reports have all been pointing to a continued correction in the Canadian housing market, and this report suggests that the pace of adjustment is accelerating, which means that the housing sector may remain a key source of drag to Canadian economic activity.
"On the bright side, it is a clear indication that Canadian builders are retrenching their construction activity in the face of waning housing demand, and this may mean that the buildup of unwanted inventory may not become such a source of drag on home prices as has been the case in the U.S.," he said.
Sales of new Ottawa homes plunge 75% in January
Sales of new Ottawa homes plunge 75% in January
By Bert Hill, The Ottawa Citizen; With files from Financial PostFebruary 14, 2009
引用:
作者: FlyingEagle
根据CREA报告, 和2001年比较, 房价大涨, 和2007年12月比较, 房价轻微下调1.2%, 从长远(例如, 5年期)来看, 房价还是会涨上去.
加拿大房地产情况继续恶化
住房产业今年1月份下降11%, 住房开工比去年下降40%.
盖了100套,计划卖出100套, 供求平衡.现在卖了89套(下降11%,), 然后就只盖60套(下降40%), 如果市场依然需求89套, 就会供不应求. 看来开发商利用减产来提高房价.
不幸被XX同志言中。
看来开发商们接着还要减员,再则减价,三则减(同关)门。