Date Released: Third Quarter Highlights
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1 H o u s i n g M a r k e t I n f o r m a t i o n Housing Now Gatineau 1 C a n a d a M o r t g a g e a n d H o u s i n g C o r p o r a t i o n Table of Contents Date Released: Third Quarter Highlights Highlights Gatineau area housing starts rise in the second quarter of 2014 Centris sales fall in the second quarter of 2014 in the Gatineau area Average price of properties on the existing home market decreasing since the beginning of the year Figure 1 Housing starts 5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1, Gatineau Region Housing Starts June 2012 June 2013 June 2014 Housing Starts, SAAR* Source: CMHC *SAAR 2 : Seasonally Adjusted Annual Rate 1 Quebec part of Ottawa-Gatineau CMA Trend Line, 6-Month Moving Average 3,341 2,103 2 All starts figures in this release, other than actual starts and the trend estimate, are seasonally adjusted annual rates (SAAR) that is, monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels. By removing seasonal ups and downs, seasonal adjustment allows for a comparison from one season to the next and from one month to the next. Reporting monthly figures at annual rates indicates the annual level of starts that would be obtained if the monthly pace were maintained for 12 months. This facilitates comparison of the current pace of activity to annual forecasts as well as to historical annual levels. 2 Housing starts in the second quarter of Centris sales continue to decrease in the area 3 Prices decrease slightly on the resale market 4 Decrease in the vacancy rate for spaces in retirement homes 5 Map - Gatineau CMA 6 Report Tables 24 Methodology 24 Definitions Subscribe Now! Access CMHC s Market Analysis Centre publications quickly and conveniently on the Order Desk at View, print, download or subscribe to get market information ed to you on the day it is released. CMHC s electronic suite of national standardized products is available for free. Housing market intelligence you can count on
2 Housing starts in the second quarter of 2014 Housing starts in the Gatineau area were trending at 2,103 units in June, compared to 1,810 in May. The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts. This increase was essentially attributable to the start of construction on several condominium and rental housing projects. The actual data for the second quarter of 2014 revealed that housing starts have decreased by 1.9 per cent compared to the same quarter a year ago (577 units in 2014, 588 units in 2013). The results from the last quarter brought total housing starts for the first six months of the year to 1,007 units, up 44.1 per cent compared to the same period in The pace of residential construction however remained relatively slow compared to the past few years. This was due, in particular, to the less favourable job market conditions and the wide choice of properties for sale on the new and existing home markets. From January to June, starts rose in all housing categories (single-detached houses, semi-detached and row homes, and apartments). The increase in residential construction was attributable to all intended markets, but was especially significant in the condominium (79 per cent) and rental housing (73 per cent) segments. From a geographic standpoint, the rise in housing starts was concentrated in the Gatineau, Hull and Aylmer sectors. The Buckingham, Masson-Angers Figure Source: CMHC and outlying sectors, for their part, recorded a decrease in activity. Centris sales continue to decrease in the area In the second quarter of 2014, Centris sales dropped by 17.5 per cent from the same quarter in The decline in sales of existing homes extended to all market segments. In fact, decreases were recorded for single-family homes (-17.5 per cent), condominiums ( 25 per cent) and plexes (-2.9 per cent). The weak job market and slight population growth in the area were factors that may have contributed to this decline. Data for the last quarter brought total Centris sales for the first six months of the year to 1,769 units, for a decrease of 12.9 per cent over the same period in This was a relatively low level compared to the last ten years. Conversely, the supply of existing Year to Date Housing Starts by Zones Gatineau Area Hull Aylmer Gatineau Buckingham Masson-Angers Periphery dwellings continued to grow at a sustained pace. Active Centris listings reached 3,570 units in the second quarter in the Gatineau area, for an increase of 18 per cent. This result was attributable to a significant rise in new Centris listings (8.2 per cent), but also to a slowdown in sales. In addition, the increase in the number of properties for sale on the existing home market was observed in all market segments. Active Centris listings of plexes went up by 28.3 per cent year over year, condominiums by 15.5 per cent and single-family homes by 17.6 per cent. From January to June 2014, active Centris listings reached 3,254 units, up 15.2 per cent over the same period in 2013 and a historical high for a first six-month period. This overall increase in supply combined with the slowdown in sales caused market conditions to ease much more significantly. In the second quarter of 2014, the resale market in the Gatineau area was favourable to buyers in all market segments. 3 3 Four-quarter moving average 2
3 Prices decrease slightly on the resale market This easing of the resale market seems to have had an impact on home prices in the Gatineau area. In fact, the average Centris price reached $241,709 in the first six months of 2014, for a decrease of 0.5 per cent from the same period in In the case of single-family homes and plexes, the average Centris prices registered drops of 1 per cent and 2.1 per cent, respectively. Despite market conditions that are favourable to buyers, the average Centris price of condominiums has, for its part, posted an increase of 3.8 per cent year over year in the first six months. This rise can be attributable in part to a different sales mix. Figure 3 1,700 1,500 1,300 1, ,396 1,311 1,469 1,541 1,535 1,451 1,439 1,229 1,357 1,256 1, Source: QFREB, statistics Centris Second Quarter Centris Sales Gatineau Area 4 Four-quarter moving average. 3
4 Decrease in the vacancy rate for spaces in retirement homes According to the latest Seniors Housing Survey conducted in Quebec by Canada Mortgage and Housing Corporation (CMHC), the vacancy rate for standard spaces decreased over the past year, falling to 7.5 per cent in February 2014 from 8.7 per cent at the same time in This was a relatively low level compared to the average of recent years (8.3 per cent for the period from 2009 to 2013). The vacancy rate for standard spaces in the Gatineau area reached 9.4 per cent in 2014, down by about three percentage points from In fact, since 2010, the proportion of vacant spaces in retirement homes has been steadily declining, as a result of the relatively stable supply of such spaces and the small increase in the population aged 75 years or older. Market conditions tightened for apartments of all types, while the vacancy rate increased in the case of rooms, reaching 10.9 per cent this year, versus 8.0 per cent in Estimated at $1,872, the average monthly rent for standard spaces in retirement homes in the Gatineau area was the highest among all CMAs in the province. The capture rate in the Gatineau area reached 20.1 per cent, a level slightly above the provincial average of 18.6 per cent. Figure 4 18 Vacancy Rate (%) for Standard Spaces by Unit Type Gatineau Area n.a. Private Rooms Bachelor One-Bedroom Two-Bedroom All Units Source: CMHC 5 For more information, see the Seniors Housing Report for Quebec 4
5 ROUTE 105 LORRAIN BLVD Housing Now - Gatineau (Quebec part of Ottawa-Gatineau CMA) - Date Released - Third Quarter 2014 Gatineau CMA Total Number of Starts January - June 2014 ROAD 309 DE L'OUTAOUAIS BLVD MALONEY O BLVD MONTÉE DE LA SOURCE BOUL ST JOSEPH DE L'OUTAOUAIS BLVD N Remainder of CMA ROAD Km Aylmer Hull Gatineau Buckingham Masson-Angers Legend No starts starts starts starts 5
6 HOUSING NOW REPORT TABLES Available in ALL reports: 1 Housing Starts (SAAR and Trend) 1.1 Housing Activity Summary of CMA 2 Starts by Submarket and by Dwelling Type Current Month or Quarter 2.1 Starts by Submarket and by Dwelling Type Year-to-Date 3 Completions by Submarket and by Dwelling Type Current Month or Quarter 3.1 Completions by Submarket and by Dwelling Type Year-to-Date 4 Absorbed Single-Detached Units by Price Range 5 MLS Residential Activity 6 Economic Indicators Available in SELECTED Reports: 1.3 History of Housing Activity (once a year) 2.2 Starts by Submarket, by Dwelling Type and by Intended Market Current Month or Quarter 2.3 Starts by Submarket, by Dwelling Type and by Intended Market Year-to-Date 2.4 Starts by Submarket and by Intended Market Current Month or Quarter 2.5 Starts by Submarket and by Intended Market Year-to-Date 3.2 Completions by Submarket, by Dwelling Type and by Intended Market Current Month or Quarter 3.3 Completions by Submarket, by Dwelling Type and by Intended Market Year-to-Date 3.4 Completions by Submarket and by Intended Market Current Month or Quarter 3.5 Completions by Submarket and by Intended Market Year-to-Date 4.1 Average Price ($) of Absorbed Single-Detached Units SYMBOLS n/a Not applicable * Totals may not add up due to co-operatives and unknown market types ** Percent change > 200% - Nil -- Amount too small to be expressed SA Monthly figures are adjusted to remove normal seasonal variation 6
7 Table 1: Housing Starts (SAAR and Trend) Gatineau CMA 1 Annual Monthly SAAR Trend Apr May 2014 June 2014 Apr May 2014 June 2014 Single-Detached Multiples 2,071 1,449 1,248 1,068 2,940 1,814 1,356 1,622 Total 2,759 1,924 1,709 1,475 3,341 2,309 1,810 2,103 Quarterly SAAR Actual 2014 Q Q Q Q2 % change 2013 Q Q2 % change Single-Detached % % Multiples 1,608 2, % % Total 2,123 2, % 699 1, % Source: CMHC 1 Census Metropolitan Area 2 The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) Detailed data available upon request 7
8 Table 1.1: Housing Activity Summary of Ottawa-Gatineau CMA (Quebec portion) Ownership Freehold Single Semi Row, Apt. & Other Single Row and Semi Apt. & Other Single, Semi, and Row STARTS Q Q % Change n/a ** Year-to-date ,007 Year-to-date % Change n/a UNDER CONSTRUCTION Q ,106 Q ,152 % Change n/a COMPLETIONS Q Q % Change n/a ** n/a Year-to-date ,100 Year-to-date % Change n/a ** COMPLETED & NOT ABSORBED Q n/a n/a 411 Q n/a n/a 407 % Change n/a n/a n/a 1.0 ABSORBED Q n/a n/a 503 Q n/a n/a 333 % Change n/a ** n/a n/a 51.1 Year-to-date n/a n/a 922 Year-to-date n/a n/a 641 % Change n/a 90.0 ** n/a n/a 43.8 Apt. & Other Total* Source: CMHC (Starts and Completions Survey, Market Absorption Survey) 8
9 Table 1.2: Housing Activity Summary by Submarket Ownership Single Freehold Semi Row, Apt. & Other Single Row and Semi Apt. & Other Single, Semi, and Row STARTS City of Gatineau Q Q Aylmer Q Q Hull Q Q Gatineau Q Q Buckingham Q Q Masson-Angers Q Q Rest of the CMA (Quebec portion) Q Q Ottawa-Gatineau CMA (Quebec portion) Q Q Apt. & Other Total* Source: CMHC (Starts and Completions Survey, Market Absorption Survey) 9
10 Table 1.2: Housing Activity Summary by Submarket Ownership Single Freehold Semi Row, Apt. & Other Single Row and Semi Apt. & Other Single, Semi, and Row UNDER CONSTRUCTION City of Gatineau Q Q ,021 Aylmer Q Q Hull Q Q Gatineau Q Q Buckingham Q Q Masson-Angers Q Q Rest of the CMA (Quebec portion) Q Q Ottawa-Gatineau CMA (Quebec portion) Q ,106 Q ,152 Apt. & Other Total* Source: CMHC (Starts and Completions Survey, Market Absorption Survey) 10
11 Table 1.2: Housing Activity Summary by Submarket Ownership Single Freehold Semi Row, Apt. & Other Single Row and Semi Apt. & Other Single, Semi, and Row COMPLETIONS City of Gatineau Q Q Aylmer Q Q Hull Q Q Gatineau Q Q Buckingham Q Q Masson-Angers Q Q Rest of the CMA (Quebec portion) Q Q Ottawa-Gatineau CMA (Quebec portion) Q Q Apt. & Other Total* Source: CMHC (Starts and Completions Survey, Market Absorption Survey) 11
12 Table 1.2: Housing Activity Summary by Submarket Ownership Single Freehold Semi Row, Apt. & Other Single Row and Semi Apt. & Other Single, Semi, and Row COMPLETED & NOT ABSORBED City of Gatineau Q n/a n/a 408 Q n/a n/a 403 Aylmer Q n/a n/a 188 Q n/a n/a 240 Hull Q n/a n/a 87 Q n/a n/a 58 Gatineau Q n/a n/a 106 Q n/a n/a 67 Buckingham Q n/a n/a 24 Q n/a n/a 23 Masson-Angers Q n/a n/a 3 Q n/a n/a 15 Rest of the CMA (Quebec portion) Q n/a n/a 3 Q n/a n/a 4 Ottawa-Gatineau CMA (Quebec portion) Q n/a n/a 411 Q n/a n/a 407 Apt. & Other Total* Source: CMHC (Starts and Completions Survey, Market Absorption Survey) 12
13 Table 1.2: Housing Activity Summary by Submarket Ownership Single Freehold Semi Row, Apt. & Other Single Row and Semi Apt. & Other Single, Semi, and Row ABSORBED City of Gatineau Q n/a n/a 442 Q n/a n/a 262 Aylmer Q n/a n/a 204 Q n/a n/a 135 Hull Q n/a n/a 157 Q n/a n/a 41 Gatineau Q n/a n/a 68 Q n/a n/a 61 Buckingham Q n/a n/a 10 Q n/a n/a 8 Masson-Angers Q n/a n/a 3 Q n/a n/a 17 Rest of the CMA (Quebec portion) Q n/a n/a 61 Q n/a n/a 71 Ottawa-Gatineau CMA (Quebec portion) Q n/a n/a 503 Q n/a n/a 333 Apt. & Other Total* Source: CMHC (Starts and Completions Survey, Market Absorption Survey) 13
14 Table 2: Starts by Submarket and by Dwelling Type Single Semi Row Apt. & Other Total Submarket % Q Q Q Q Q Q Q Q Q Q Change City of Gatineau Aylmer Hull Gatineau Buckingham Masson-Angers Rest of the CMA (Quebec portion) Ottawa-Gatineau CMA (Quebec portion) Submarket Table 2.1: Starts by Submarket and by Dwelling Type January - June Single Semi Row Apt. & Other Total % Change City of Gatineau Aylmer Hull Gatineau Buckingham Masson-Angers Rest of the CMA (Quebec portion) Ottawa-Gatineau CMA (Quebec portion) , Source: CMHC (Starts and Completions Survey) 14
15 Submarket Table 2.2: Starts by Submarket, by Dwelling Type and by Intended Market Freehold and Row Q Q Q Q Q Q Q Q City of Gatineau Aylmer Hull Gatineau Buckingham Masson-Angers Rest of the CMA (Quebec portion) Ottawa-Gatineau CMA (Quebec portion) Freehold and Apt. & Other Submarket Table 2.3: Starts by Submarket, by Dwelling Type and by Intended Market January - June 2014 Freehold and Row City of Gatineau Aylmer Hull Gatineau Buckingham Masson-Angers Rest of the CMA (Quebec portion) Ottawa-Gatineau CMA (Quebec portion) Freehold and Apt. & Other Source: CMHC (Starts and Completions Survey) 15
16 Submarket Table 2.4: Starts by Submarket and by Intended Market Freehold Total* Q Q Q Q Q Q Q Q City of Gatineau Aylmer Hull Gatineau Buckingham Masson-Angers Rest of the CMA (Quebec portion) Ottawa-Gatineau CMA (Quebec portion) Table 2.5: Starts by Submarket and by Intended Market January - June 2014 Freehold Total* Submarket City of Gatineau Aylmer Hull Gatineau Buckingham Masson-Angers Rest of the CMA (Quebec portion) Ottawa-Gatineau CMA (Quebec portion) , Source: CMHC (Starts and Completions Survey) 16
17 Table 3: Completions by Submarket and by Dwelling Type Single Semi Row Apt. & Other Total Submarket % Q Q Q Q Q Q Q Q Q Q Change City of Gatineau Aylmer Hull Gatineau Buckingham Masson-Angers Rest of the CMA (Quebec portion) Ottawa-Gatineau CMA (Quebec portion) Submarket Table 3.1: Completions by Submarket and by Dwelling Type January - June Single Semi Row Apt. & Other Total % Change City of Gatineau Aylmer Hull Gatineau Buckingham Masson-Angers Rest of the CMA (Quebec portion) Ottawa-Gatineau CMA (Quebec portion) , Source: CMHC (Starts and Completions Survey) 17
18 Table 3.2: Completions by Submarket, by Dwelling Type and by Intended Market Submarket Freehold and Row Q Q Q Q Q Q Q Q City of Gatineau Aylmer Hull Gatineau Buckingham Masson-Angers Rest of the CMA (Quebec portion) Ottawa-Gatineau CMA (Quebec portion) Freehold and Apt. & Other Table 3.3: Completions by Submarket, by Dwelling Type and by Intended Market January - June 2014 Submarket Freehold and Row City of Gatineau Aylmer Hull Gatineau Buckingham Masson-Angers Rest of the CMA (Quebec portion) Ottawa-Gatineau CMA (Quebec portion) Freehold and Apt. & Other Source: CMHC (Starts and Completions Survey) 18
19 Submarket Table 3.4: Completions by Submarket and by Intended Market Freehold Total* Q Q Q Q Q Q Q Q City of Gatineau Aylmer Hull Gatineau Buckingham Masson-Angers Rest of the CMA (Quebec portion) Ottawa-Gatineau CMA (Quebec portion) Table 3.5: Completions by Submarket and by Intended Market January - June 2014 Freehold Total* Submarket City of Gatineau Aylmer Hull Gatineau Buckingham Masson-Angers Rest of the CMA (Quebec portion) Ottawa-Gatineau CMA (Quebec portion) , Source: CMHC (Starts and Completions Survey) 19
20 Submarket Table 4: Absorbed Single-Detached Units by Price Range Price Ranges < $150,000 Units Share (%) $150,000 - $174,999 Share Units (%) $175,000 - $199,999 Share Units (%) $200,000 - $249,999 Share Units (%) $250,000 + Median Average Total Price ($) Price ($) Share Units (%) City of Gatineau Q , ,549 Q , ,154 Year-to-date , ,171 Year-to-date , ,301 Aylmer Q , ,589 Q , ,337 Year-to-date , ,489 Year-to-date , ,968 Hull Q Q Year-to-date Year-to-date Gatineau Q Q Year-to-date , ,895 Year-to-date , ,569 Buckingham Q n/a 0 n/a 0 n/a 0 n/a 0 n/a Q n/a 0 n/a 0 n/a 0 n/a 0 n/a Year-to-date n/a 0 n/a 0 n/a 0 n/a 0 n/a Year-to-date Masson-Angers Q Q Year-to-date Year-to-date , ,820 Rest of the CMA (Quebec portion) Q , ,583 Q , ,064 Year-to-date , ,256 Year-to-date , ,985 Ottawa-Gatineau CMA (Quebec portion) Q , ,928 Q , ,872 Year-to-date , ,734 Year-to-date , ,551 Source: CMHC (Market Absorption Survey) 20
21 Table 4.1: Average Price ($) of Absorbed Single-detached Units Submarket Q Q % Change % Change City of Gatineau 417, , , , Aylmer 455, , , , Hull n/a n/a Gatineau n/a 410, , Buckingham n/a n/a Masson-Angers n/a ,820 n/a Rest of the CMA (Quebec portion) 402, , , , Ottawa-Gatineau CMA (Quebec portion) 407, , , , Source: CMHC (Market Absorption Survey) 21
22 Table 5: Centris Residential Activity 1 for Gatineau Last Four Quarters 3 Number of Sales Number of New Listings Number of Active Listings Average Price ($) Active Listings to Sales Ratio 2 Average Price 2 ($) Active Listings to Sales Ratio 2 SINGLE FAMILY* Q ,049 2, , , Q ,047 1,870 2, , , % Change n/a 0.8 n/a ,459 3,790 2, , n/a n/a ,655 3,598 2, , n/a n/a % Change n/a n/a n/a CONDOMINIUMS* Q , , Q , , % Change n/a 3.3 n/a , n/a n/a , n/a n/a % Change n/a n/a n/a PLEX* Q , , Q , , % Change n/a -3.1 n/a , n/a n/a , n/a n/a % Change n/a n/a n/a TOTAL Q ,036 2,588 3, , , Q ,256 2,392 3, , , % Change n/a 0.8 n/a ,769 4,821 3, , n/a n/a ,032 4,605 2, , n/a n/a % Change n/a n/a n/a 1 Source: QFREB by the Centris system 2 Calculations: CMHC. 3 Weighted average for the last four quarters, to reduce strong variations from one quarter to another and give a clearer trend. -- Data not available when there are fewer than 30 sales. n/a Not applicable. * Refer to Centris for the definitions. ** Observed change greater than 100%. 22
23 P & I Per $100,000 Interest Rates 1 Yr. Term Table 6: Economic Indicators Mortgage Rates (%) 5 Yr. Term NHPI, Total, Ottawa- Gatineau CMA 2007=100 CPI, 2002 =100 (Quebec) Ottawa-Gatineau CMA (Quebec portion) Labour Market Employment SA (,000) Unemployment Rate (%) SA Participation Rate (%) SA 2013 January February March April May June July August September October November December January February March April May ,000 June July August September October November December "P & I" means Principal and Interest (assumes $100,000 mortgage amortized over 25 years using current 5 year interest rate) "NHPI" means New Housing Price Index "CPI" means Consumer Price Index "SA" means Seasonally Adjusted Source: CMHC, adapted from Statistics Canada (CANSIM), Statistics Canada (CANSIM) 23
24 Methodology Starts & Completions Survey Methodology The Starts and Completions Survey is conducted by way of site visits which are used to confirm that new units have reached set stages in the construction process. Since most municipalities in the country issue building permits, these are used as an indication of where construction is likely to take place. In areas where there are no permits, reliance has to be placed either on local sources or searching procedures. The Starts and Completions Survey is carried out monthly in urban areas with population in excess of 50,000, as defined by the 2011 Census. In urban areas with populations of 10,000 to 49,999, all Starts are enumerated in the last month of the quarter (i.e. four times a year, in March, June, September and December). In these centres with quarterly enumeration, Completion activity is modeled based on historical patterns. Monthly Starts and Completions activity in these quarterly locations are statistically estimated at a provincial level for single and multi categories. Centres with populations below 10,000 are enumerated on a sample basis, also in the last month of each quarter (i.e. four times a year, in March, June, September and December). The Starts and Completions Survey enumerates dwelling units in new structures only, designed for non-transient and year-round occupancy. Mobile homes are included in the surveys. A mobile home is a type of manufactured house that is completely assembled in a factory and then moved to a foundation before it is occupied. Trailers or any other movable dwelling (the larger often referred to as a mobile home) with no permanent foundation are excluded from the survey. Conversions and/or alterations within an existing structure are excluded from the surveys as are seasonal dwellings, such as: summer cottages, hunting and ski cabins, trailers and boat houses; and hostel accommodations, such as: hospitals, nursing homes, penal institutions, convents, monasteries, military and industrial camps, and collective types of accommodation such as: hotels, clubs, and lodging homes. Market Absorption Survey Methodology The Market Absorption Survey is carried out in conjunction with the Starts and Completions Survey in urban areas with populations in excess of 50,000. When a structure is recorded as completed, an update is also made as units are sold or rented. The dwellings are then enumerated each month until such time as full absorption occurs. STARTS AND COMPLETIONS SURVEY AND MARKET ABSORPTION SURVEY DEFINITIONS A dwelling unit, for purposes of the Starts and Completions Survey, is defined as a structurally separate set of self-contained living premises with a private entrance from outside the building or from a common hall, lobby, or stairway inside the building. Such an entrance must be one that can be used without passing through another separate dwelling unit. A start, for purposes of the Starts and Completions Survey, is defined as the beginning of construction work on a building, usually when the concrete has been poured for the whole of the footing around the structure, or an equivalent stage where a basement will not be part of the structure. The number of units under construction as at the end of the period shown, takes into account certain adjustments which are necessary for various reasons. For example, after a start on a dwelling has commenced construction may cease, or a structure, when completed, may contain more or fewer dwelling units than were reported at start. A completion, for purposes of the Starts and Completions Survey, is defined as the stage at which all the proposed construction work on a dwelling unit has been performed, although under some circumstances a dwelling may be counted as completed where up to 10 per cent of the proposed work remains to be done. The term absorbed means that a housing unit is no longer on the market (i.e. has been sold or rented). This usually happens when a binding contract is secured by a non-refundable deposit and has been signed by a qualified purchaser. The purpose of the Market Absorption Survey is to measure the rate at which units are sold or rented after they are completed, as well as collect prices. 24
25 DWELLING TYPES: A Single-Detached dwelling (also referred to as Single ) is a building containing only one dwelling unit, which is completely separated on all sides from any other dwelling or structure. Includes link homes, where two units may share a common basement wall but are separated above grade. Also includes cluster-single developments. A Semi-Detached (Double) dwelling (also referred to as Semi ) is one of two dwellings located side-by-side in a building, adjoining no other structure and separated by a common or party wall extending from ground to roof. A Row (Townhouse) dwelling is a one family dwelling unit in a row of three or more attached dwellings separated by a common or party wall extending from ground to roof. The term Apartment and other includes all dwellings other than those described above, including structures commonly known as stacked townhouses, duplexes, triplexes, double duplexes and row duplexes. Intended market: The intended market is the tenure in which the unit is being marketed. This includes the following categories: Freehold: A residence where the owner owns the dwelling and lot outright. (including Strata-Titled): An individual dwelling which is privately owned, but where the building and/or the land are collectively owned by all dwelling unit owners. A condominium is a form of ownership rather than a type of house. : Dwelling constructed for rental purposes regardless of who finances the structure. Geographical terms: A census metropolitan area (CMA) or a census agglomeration (CA) is formed by one or more adjacent municipalities centred on a large urban area (known as the urban core). The census population count of the urban core is at least 10,000 to form a census agglomeration and at least 100,000 to form a census metropolitan area. To be included in the CMA or CA, other adjacent municipalities must have a high degree on integration with the central urban area, as measured by commuting flows derived from census place of work data. CMAs and CAs contain whole municipalities or Census Subdivisions. A Rural area, for the purposes of this publication, is a centre with a population less than 10,000. All data presented in this publication is based on Statistics Canada s 2006 Census area definitions. 25
26 CMHC Home to Canadians (CMHC) has been Canada's national housing agency for more than 65 years. Together with other housing stakeholders, we help ensure that the Canadian housing system remains one of the best in the world. We are committed to helping Canadians access a wide choice of quality, environmentally sustainable and affordable housing solutions that will continue to create vibrant and healthy communities and cities across the country. For more information, visit our website at or follow us on Twitter, YouTube and Flickr. You can also reach us by phone at or by fax at Outside Canada call or fax to supports the Government of Canada policy on access to information for people with disabilities. If you wish to obtain this publication in alternative formats, call The Market Analysis Centre s (MAC) electronic suite of national standardized products is available for free on CMHC s website. You can view, print, download or subscribe to future editions and get market information ed automatically to you the same day it is released. It s quick and convenient! Go to For more information on MAC and the wealth of housing market information available to you, visit us today at To subscribe to priced, printed editions of MAC publications, call All rights reserved. CMHC grants reasonable rights of use of this publication s content solely for personal, corporate or public policy research, and educational purposes. This permission consists of the right to use the content for general reference purposes in written analyses and in the reporting of results, conclusions, and forecasts including the citation of limited amounts of supporting data extracted from this publication. Reasonable and limited rights of use are also permitted in commercial publications subject to the above criteria, and CMHC s right to request that such use be discontinued for any reason. Any use of the publication s content must include the source of the information, including statistical data, acknowledged as follows: Source: CMHC (or Adapted from CMHC, if appropriate), name of product, year and date of publication issue. Other than as outlined above, the content of the publication cannot be reproduced or transmitted to any person or, if acquired by an organization, to users outside the organization. Placing the publication, in whole or part, on a website accessible to the public or on any website accessible to persons not directly employed by the organization is not permitted. To use the content of any CMHC Market Analysis publication for any purpose other than the general reference purposes set out above or to request permission to reproduce large portions of, or entire CMHC Market Analysis publications, please contact: the Canadian Housing Information Centre (CHIC) at chic@cmhc.ca; or For permission, please provide CHIC with the following information: Publication s name, year and date of issue. Without limiting the generality of the foregoing, no portion of the content may be translated from English or French into any other language without the prior written permission of. The information, analyses and opinions contained in this publication are based on various sources believed to be reliable, but their accuracy cannot be guaranteed. The information, analyses and opinions shall not be taken as representations for which or any of its employees shall incur responsibility. 26
27 Housing market intelligence you can count on FREE REPORTS AVAILABLE ON-LINE n Canadian Housing Statistics n Housing Information Monthly n Housing Market Outlook, Canada n Housing Market Outlook, Highlight Reports Canada and Regional n Housing Market Outlook, Major Centres n Housing Market Tables: Selected South Central Ontario Centres n Housing Now, Canada n Housing Now, Major Centres n Housing Now, Regional n Monthly Housing Statistics n Northern Housing Outlook Report n Preliminary Housing Start Data n Market Provincial Highlight Reports n Market Reports, Major Centres n Market Statistics n Residential Construction Digest, Prairie Centres n Seniors Housing Reports CMHC s Market Analysis Centre e-reports provide a wealth of detailed local, provincial, regional and national market information. Forecasts and Analysis Future-oriented information about local, regional and national housing trends. Statistics and Data Information on current housing market activities starts, rents, vacancy rates and much more. Get the market intelligence you need today! Click to view, download or subscribe. HOUSING MARKET INFORMATION PORTAL The housing data you want, the way you want it Information in one central location. Quick and easy access. Neighbourhood level data. cmhc.ca/hmiportal
Q activity closed the year-todate gap by more than half from the first quarter.
H o u s i n g M a r k e t I n f o r m a t i o n Housing Now Windsor CMA C a n a d a M o r t g a g e a n d H o u s i n g C o r p o r a t i o n Date Released: Third Quarter 2013 Table of Contents New Home
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