HOUSING NOW Hamilton and Brantford CMAs

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1 Housing Market Information HOUSING NOW Hamilton and Brantford CMAs Date Released: February 2011 New Home Market Low starts of new homes in January Total housing starts in both the Hamilton and Brantford Census Metropolitan Areas (CMAs) decreased signifi cantly in January from the same month in Starts were well below average in both CMAs with just 67 new homes started in Hamilton and 16 in Brantford. Although starts are typically lower during January in the Hamilton CMA, semi-detached, townhouse and apartment starts were unusually high last year. In contrast, there were 64 single-detached home starts this year and only three townhouse starts. Similarly, in Brantford, single-detached homes predominated this year whereas in January 2010, apartment starts were relatively high. While the starts were spread out across most of the Hamilton CMA, the outlying areas of Burlington, Glanbrook and Ancaster had stronger showings. Homes in these areas tend Table of Contents 1 New Home Market 3 Maps 6 Tables Figure 1 Housing Starts Decreased in January 600 al Starts, Hamilton CMA Tot Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 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. Source: CMHC Housing market intelligence you can count on

2 to consistently attract demand from buyers. In Brantford the majority of the home starts were in the city. Figure 2 New Home Starts Drop in Brantford Despite the fact that there were fewer completed homes left unsold in the ownership market last month in the Hamilton CMA, over 180 new apartment rental units in Burlington remained vacant. In the City of Brantford, the number of completed yet unsold homes rose by 18 per cent. Most of these homes were condominium and freehold townhouses. At the same time, there were just fi ve homes (all freehold townhouses) left unsold in the less populated County of Brant, which was a signifi cant decrease from a year ago. Tota al Starts, Brantford CMA Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Source: CMHC 2

3 N Housing Now - Hamilton and Brantford CMAs - Date Released: February 2011 QUEEN ELIZABETH WAY Stoney Creek City Grimsby Town HIGHWAY 6 Legend No starts HIGHWAY 407 HIGHWAY 403 LINCOLN M. ALEXANDER PKY HIGHWAY 6 Hamilton and Brantford CMAs Number of Starts (Multiples) Brantford City HIGHWAY 403 Brant County Flamborough Ancaster City Dundas Town Burlington City Hamilton City Glanbrook 3 starts HIGHWAY Km 3

4 N Housing Now - Hamilton and Brantford CMAs - Date Released: February 2011 QUEEN ELIZABETH WAY Stoney Creek City Grimsby Town HIGHWAY 6 Legend No starts 4-6 starts HIGHWAY 407 HIGHWAY 403 LINCOLN M. ALEXANDER PKY HIGHWAY 6 Hamilton and Brantford CMAs Number of Starts (s) Brant County Brantford City Flamborough 7-9 starts Ancaster City Dundas Town Burlington City Hamilton City Glanbrook HIGHWAY 8 HIGHWAY Km starts starts 4

5 N Housing Now - Hamilton and Brantford CMAs - Date Released: February 2011 QUEEN ELIZABETH WAY Stoney Creek City Grimsby Town HIGHWAY 6 Legend No starts 4-6 starts HIGHWAY 407 HIGHWAY 403 LINCOLN M. ALEXANDER PKY HIGHWAY 6 Hamilton and Brantford CMAs Total Number of Starts Brant County Brantford City Flamborough 7-9 starts Ancaster City Dundas Town Burlington City Hamilton City Glanbrook HIGHWAY 8 HIGHWAY Km starts starts 5

6 HOUSING NOW REPORT TABLES Available in ALL reports: 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 -Detached Units by Price Range 5 MLS Residential Activity 6 Economic Indicators Available in SELECTED Reports: 1.1 Housing Activity Summary by Submarket 1.2 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 -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 1a: Housing Activity Summary of Hamilton CMA Ownership Freehold Row, Apt. & Row and,, and Row STARTS January % Change n/a n/a Year-to-date Year-to-date % Change n/a n/a UNDER CONSTRUCTION ,504 January ,519 % Change n/a COMPLETIONS January % Change 10.0 ** 97.0 n/a n/a n/a n/a -2.2 Year-to-date Year-to-date % Change 10.0 ** 97.0 n/a n/a n/a n/a -2.2 COMPLETED & NOT ABSORBED January % Change ** n/a n/a n/a ABSORBED January % Change ** n/a n/a n/a n/a 8.5 Year-to-date Year-to-date % Change ** n/a n/a n/a n/a 8.5 Total* Source: CMHC (Starts and Completions Survey, Market Absorption Survey) 7

8 Table 1b: Housing Activity Summary of Brantford CMA Ownership Freehold Row, Apt. & Row and,, and Row STARTS January % Change 8.3 n/a n/a n/a n/a n/a Year-to-date Year-to-date % Change 8.3 n/a n/a n/a n/a n/a UNDER CONSTRUCTION January % Change ** n/a n/a COMPLETIONS January % Change 73.7 n/a n/a n/a n/a n/a n/a n/a 73.7 Year-to-date Year-to-date % Change 73.7 n/a n/a n/a n/a n/a n/a n/a 73.7 COMPLETED & NOT ABSORBED January % Change n/a ** n/a ABSORBED January % Change 44.0 n/a n/a n/a n/a n/a n/a 27.6 Year-to-date Year-to-date % Change 44.0 n/a n/a n/a n/a n/a n/a 27.6 Total* Source: CMHC (Starts and Completions Survey, Market Absorption Survey) 8

9 Table 1.1: Housing Activity Summary by Submarket Ownership Freehold Row, Apt. & Row and,, and Row STARTS City of Hamilton January Former Hamilton City January Stoney Creek City January Ancaster City January Dundas Town January Flamborough January Glanbrook January Burlington City January Grimsby Town January Hamilton CMA January Brant City January 2010 n/a n/a n/a n/a n/a n/a n/a n/a n/a Brantford City January Brantford CMA January Total* Source: CMHC (Starts and Completions Survey, Market Absorption Survey) 9

10 Table 1.1: Housing Activity Summary by Submarket Ownership Freehold Row, Apt. & Row and,, and Row UNDER CONSTRUCTION City of Hamilton ,486 January ,294 Former Hamilton City January Stoney Creek City January Ancaster City January Dundas Town January Flamborough January Glanbrook January Burlington City January ,169 Grimsby Town January Hamilton CMA ,504 January ,519 Brant City January 2010 n/a n/a n/a n/a n/a n/a n/a n/a n/a Brantford City January Brantford CMA January Total* Source: CMHC (Starts and Completions Survey, Market Absorption Survey) 10

11 Table 1.1: Housing Activity Summary by Submarket Ownership Freehold Row, Apt. & Row and,, and Row COMPLETIONS City of Hamilton January Former Hamilton City January Stoney Creek City January Ancaster City January Dundas Town January Flamborough January Glanbrook January Burlington City January Grimsby Town January Hamilton CMA January Brant City January 2010 n/a n/a n/a n/a n/a n/a n/a n/a n/a Brantford City January Brantford CMA January Total* Source: CMHC (Starts and Completions Survey, Market Absorption Survey) 11

12 Table 1.1: Housing Activity Summary by Submarket Ownership Freehold Row, Apt. & Row and,, and Row COMPLETED & NOT ABSORBED City of Hamilton January Former Hamilton City January Stoney Creek City January Ancaster City January Dundas Town January Flamborough January Glanbrook January Burlington City January Grimsby Town January Hamilton CMA January Brant City January 2010 n/a n/a n/a n/a n/a n/a n/a n/a n/a Brantford City January Brantford CMA January Total* Source: CMHC (Starts and Completions Survey, Market Absorption Survey) 12

13 Table 1.1: Housing Activity Summary by Submarket Ownership Freehold Row, Apt. & Row and,, and Row ABSORBED City of Hamilton January Former Hamilton City January Stoney Creek City January Ancaster City January Dundas Town January Flamborough January Glanbrook January Burlington City January Grimsby Town January Hamilton CMA January Brant City January 2010 n/a n/a n/a n/a n/a n/a n/a n/a n/a Brantford City January Brantford CMA January Total* Source: CMHC (Starts and Completions Survey, Market Absorption Survey) 13

14 Table 1.2a: History of Housing Starts of Hamilton CMA Ownership Freehold Row, Apt. & Row and,, and Row , ,562 % Change ** ** n/a ,860 % Change n/a n/a , ,529 % Change n/a 25.7 ** n/a , ,004 % Change , ,043 % Change , ,145 % Change , ,093 % Change ** -3.8 ** n/a ** , ,260 % Change , ,803 % Change n/a n/a , ,365 Total* Source: CMHC (Starts and Completions Survey) 14

15 Table 1.2b: History of Housing Starts of Brantford CMA Ownership Freehold Row, Apt. & Row and,, and Row % Change ** n/a n/a ** % Change -8.2 ** % Change n/a n/a n/a n/a % Change 30.5 ** n/a n/a 72.3 n/a n/a % Change n/a % Change n/a n/a n/a n/a % Change n/a n/a n/a % Change n/a n/a % Change n/a n/a n/a n/a Total* Source: CMHC (Starts and Completions Survey) 15

16 Table 2: Starts by Submarket and by Dwelling Type Row Total Submarket % Jan 2011 Jan 2010 Jan 2011 Jan 2010 Jan 2011 Jan 2010 Jan 2011 Jan 2010 Jan 2011 Jan 2010 Change Hamilton CMA City of Hamilton Former Hamilton City Stoney Creek City Ancaster City Dundas Town Flamborough Glanbrook Burlington City Grimsby Town Brantford CMA Brant City 4 n/a 0 n/a 0 n/a 0 n/a 4 n/a n/a Brantford City Submarket Table 2.1: Starts by Submarket and by Dwelling Type January - Row Total % Change Hamilton CMA City of Hamilton Former Hamilton City Stoney Creek City Ancaster City Dundas Town Flamborough Glanbrook Burlington City Grimsby Town Brantford CMA Brant City 4 n/a 0 n/a 0 n/a 0 n/a 4 n/a n/a Brantford City Source: CMHC (Starts and Completions Survey) 16

17 Submarket Table 2.2: Starts by Submarket, by Dwelling Type and by Intended Market Row Freehold and Jan 2011 Jan 2010 Jan 2011 Jan 2010 Jan 2011 Jan 2010 Jan 2011 Jan 2010 Hamilton CMA City of Hamilton Former Hamilton City Stoney Creek City Ancaster City Dundas Town Flamborough Glanbrook Burlington City Grimsby Town Brantford CMA Brant City 0 n/a 0 n/a 0 n/a 0 n/a Brantford City Freehold and Submarket Table 2.3: Starts by Submarket, by Dwelling Type and by Intended Market January - Freehold and Row Hamilton CMA City of Hamilton Former Hamilton City Stoney Creek City Ancaster City Dundas Town Flamborough Glanbrook Burlington City Grimsby Town Brantford CMA Brant City 0 n/a 0 n/a 0 n/a 0 n/a Brantford City Freehold and Source: CMHC (Starts and Completions Survey) 17

18 Table 2.4: Starts by Submarket and by Intended Market Freehold Total* Submarket Jan 2011 Jan 2010 Jan 2011 Jan 2010 Jan 2011 Jan 2010 Jan 2011 Jan 2010 Hamilton CMA City of Hamilton Former Hamilton City Stoney Creek City Ancaster City Dundas Town Flamborough Glanbrook Burlington City Grimsby Town Brantford CMA Brant City 4 n/a 0 n/a 0 n/a 4 n/a Brantford City Table 2.5: Starts by Submarket and by Intended Market January - Freehold Total* Submarket Hamilton CMA City of Hamilton Former Hamilton City Stoney Creek City Ancaster City Dundas Town Flamborough Glanbrook Burlington City Grimsby Town Brantford CMA Brant City 4 n/a 0 n/a 0 n/a 4 n/a Brantford City Source: CMHC (Starts and Completions Survey) 18

19 Table 3: Completions by Submarket and by Dwelling Type Row Total Submarket % Jan 2011 Jan 2010 Jan 2011 Jan 2010 Jan 2011 Jan 2010 Jan 2011 Jan 2010 Jan 2011 Jan 2010 Change Hamilton CMA City of Hamilton Former Hamilton City Stoney Creek City Ancaster City Dundas Town Flamborough ** Glanbrook Burlington City Grimsby Town Brantford CMA Brant City 26 n/a 0 n/a 0 n/a 0 n/a 26 n/a n/a Brantford City Submarket Table 3.1: Completions by Submarket and by Dwelling Type January - Row Total % Change Hamilton CMA City of Hamilton Former Hamilton City Stoney Creek City Ancaster City Dundas Town Flamborough ** Glanbrook Burlington City Grimsby Town Brantford CMA Brant City 26 n/a 0 n/a 0 n/a 0 n/a 26 n/a n/a Brantford City Source: CMHC (Starts and Completions Survey) 19

20 Table 3.2: Completions by Submarket, by Dwelling Type and by Intended Market Row Submarket Freehold and Freehold and Jan 2011 Jan 2010 Jan 2011 Jan 2010 Jan 2011 Jan 2010 Jan 2011 Jan 2010 Hamilton CMA City of Hamilton Former Hamilton City Stoney Creek City Ancaster City Dundas Town Flamborough Glanbrook Burlington City Grimsby Town Brantford CMA Brant City 0 n/a 0 n/a 0 n/a 0 n/a Brantford City Table 3.3: Completions by Submarket, by Dwelling Type and by Intended Market January - Row Submarket Freehold and Freehold and Hamilton CMA City of Hamilton Former Hamilton City Stoney Creek City Ancaster City Dundas Town Flamborough Glanbrook Burlington City Grimsby Town Brantford CMA Brant City 0 n/a 0 n/a 0 n/a 0 n/a Brantford City Source: CMHC (Starts and Completions Survey) 20

21 Table 3.4: Completions by Submarket and by Intended Market Freehold Total* Submarket Jan 2011 Jan 2010 Jan 2011 Jan 2010 Jan 2011 Jan 2010 Jan 2011 Jan 2010 Hamilton CMA City of Hamilton Former Hamilton City Stoney Creek City Ancaster City Dundas Town Flamborough Glanbrook Burlington City Grimsby Town Brantford CMA Brant City 26 n/a 0 n/a 0 n/a 26 n/a Brantford City Table 3.5: Completions by Submarket and by Intended Market January - Freehold Total* Submarket Hamilton CMA City of Hamilton Former Hamilton City Stoney Creek City Ancaster City Dundas Town Flamborough Glanbrook Burlington City Grimsby Town Brantford CMA Brant City 26 n/a 0 n/a 0 n/a 26 n/a Brantford City Source: CMHC (Starts and Completions Survey) 21

22 Submarket Table 4a: Absorbed -Detached Units by Price Range Price Ranges < $300,000 Units Share $300,000 - $349,999 Share Units $350,000 - $399,999 Share Units $400,000 - $449,999 Share Units $450,000 + Median Average Total Price ($) Price ($) Share Units City of Hamilton , ,245 January , ,204 Year-to-date , ,245 Year-to-date , ,204 Former Hamilton City January , ,960 Year-to-date Year-to-date , ,960 Stoney Creek City , ,907 January , ,292 Year-to-date , ,907 Year-to-date , ,292 Ancaster City , ,279 January , ,580 Year-to-date , ,279 Year-to-date , ,580 Dundas Town January Year-to-date Year-to-date Flamborough January Year-to-date Year-to-date Glanbrook January , ,173 Year-to-date Year-to-date , ,173 Burlington City ,990 1,075,035 January , ,462 Year-to-date ,990 1,075,035 Year-to-date , ,462 Grimsby Town , ,650 January Year-to-date , ,650 Year-to-date Source: CMHC (Market Absorption Survey) 22

23 Submarket Table 4a: Absorbed -Detached Units by Price Range Price Ranges < $300,000 Units Share $300,000 - $349,999 Share Units $350,000 - $399,999 Share Units $400,000 - $449,999 Share Units $450,000 + Median Average Total Price ($) Price ($) Share Units Hamilton CMA , ,560 January , ,933 Year-to-date , ,560 Year-to-date , ,933 Source: CMHC (Market Absorption Survey) 23

24 Submarket Table 4b: Absorbed -Detached Units by Price Range Price Ranges < $200,000 Units Share $200,000 - $249,999 Share Units $250,000 - $299,999 Share Units $300,000 - $349,999 Share Units $350,000 + Median Average Total Price ($) Price ($) Share Units Brant City , ,357 January 2010 n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Year-to-date , ,357 Year-to-date 2010 n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Brantford City January , ,779 Year-to-date Year-to-date , ,779 Brantford CMA , ,053 January , ,216 Year-to-date , ,053 Year-to-date , ,216 Source: CMHC (Market Absorption Survey) 24

25 Table 4.1: Average Price ($) of Absorbed -detached Units Submarket Jan 2011 Jan 2010 % Change % Change Hamilton CMA 552, , , , City of Hamilton 396, , , , Former Hamilton City ,960 n/a ,960 n/a Stoney Creek City 512, , , , Ancaster City 347, , , , Dundas Town n/a n/a Flamborough n/a n/a Glanbrook ,173 n/a ,173 n/a Burlington City 1,075, , ,075, , Grimsby Town 335, n/a 335, n/a Brantford CMA 422, , , , Brant City 448,357 n/a n/a 448,357 n/a n/a Brantford City ,779 n/a ,779 n/a Source: CMHC (Market Absorption Survey) 25

26 Table 5a: MLS Residential Activity for Hamilton Number of Sales 1 Yr/Yr 2 Sales SA 1 Number of New Listings 1 New Listings SA 1 Sales-to- New Listings SA 2 Average Price 1 ($) Yr/Yr 2 Average Price 1 ($) SA 2010 January ,173 1,548 1, , ,527 February 1, ,210 1,588 1, , ,625 March 1, ,168 2,095 1, , ,276 April 1, ,163 2,350 1, , ,947 May 1, ,088 2,180 1, , ,238 June 1, ,881 1, , ,493 July ,470 1, , ,188 August ,455 1, , ,319 September 1, ,009 1,779 1, , ,234 October ,071 1,544 1, , ,660 November ,072 1,542 1, , ,989 December , , , , January ,149 1,734 1, , ,520 February March April May June July August September October November December Q , , , Q , , , , , , , MLS is a registered trademark of the Canadian Real Estate Association (CREA). 1 Source: CREA 2 Source: CMHC, adapted from MLS data supplied by CREA 26

27 Table 5b: MLS Residential Activity for Brantford Number of Sales 1 Yr/Yr 2 Sales SA 1 Number of New Listings 1 New Listings SA 1 Sales-to- New Listings SA 2 Average Price 1 ($) Yr/Yr 2 Average Price 1 ($) SA 2010 January , ,720 February , ,347 March , ,094 April , ,132 May , ,030 June , ,660 July , ,843 August , ,910 September , ,942 October , ,774 November , ,212 December , , January , ,514 February March April May June July August September October November December Q , Q , , , MLS is a registered trademark of the Canadian Real Estate Association (CREA). 1 Source: CREA 2 Source: CMHC, adapted from MLS data supplied by CREA 27

28 Table 6a: Economic Indicators Interest Rates Hamilton Labour Market NHPI, Total, CPI, 2002 Mortage Rates Hamilton P & I =100 Average CMA Employment Unemployment Participation Per (Ontario) Weekly 1 Yr. 5 Yr. 2007=100 SA (,000) Rate SA Rate SA $100,000 Earnings ($) Term Term 2010 January February March April May June July August September October November December January February March April May 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) 28

29 Table 6b: Economic Indicators Interest Rates Brantford Labour Market NHPI, Total, CPI, 2002 Mortage Rates Hamilton P & I =100 Average CMA Employment Unemployment Participation Per (Ontario) Weekly 1 Yr. 5 Yr. 2007=100 SA (,000) Rate SA Rate SA $100,000 Earnings ($) Term Term 2010 January February March April May June July August September October November December January February March April May 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) 29

30 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 2006 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 modelled 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. 30

31 DWELLING TYPES: A -Detached dwelling (also referred to as ) 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 -Detached (Double) dwelling (also referred to as ) 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. 31

32 CMHC Home to Canadians (CMHC) has been Canada's national housing agency for more than 60 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 homes homes that will continue to create vibrant and healthy communities and cities across the country. For more information, visit our website at 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. 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 mailto:chic@cmhc.gc.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. 32

33 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 Renovation and Home Purchase Report n Market Provincial Highlight Reports Now semi-annual! n Market Reports, Major Centres n Market Statistics Now semi-annual! n Residential Construction Digest, Prairie Centres n Seniors Housing Reports n Seniors Housing Reports - Supplementary Tables, Regional 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 - Monthly Housing Starts Tool A tool to help you access monthly housing start data quickly and easily. Share this tool or host it on your website. Information at your fingertips!

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