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November 18, 2020HOUSING STARTS, OCTOBER 2020 
Nova Scotia's housing starts (seasonally adjusted annualized rate) totalled 2,793 in October 2020, down 58.5% from 6,729 in September 2020.
The monthly decrease in October reflects lower starts in Halifax and higher starts in Nova Scotia outside of Halifax. Housing starts were down 75.6% in Halifax, from 5,275 in September 2020 to 1,288 in October 2020. Outside Halifax, Nova Scotia's housing starts up 3.5%, from 1,454 in September 2020 to 1,505 in October 2020.
Compared to October 2019, Nova Scotia housing starts were down 14.2%. Housing starts in Halifax were lower by 3.1% compared to October 2019, while outside of Halifax housing starts were down 21.9%.
The six-month moving average of housing starts in Nova Scotia and Halifax was relatively flat through 2017. During 2018, the six-month moving average increased due to higher starts for multiples and declined after reaching a peak in September. The six-month moving average rose in the summer of 2019 due to trends in the Halifax market. For Nova Scotia, the trend has been negative through 2020 due to declines outside of Halifax, while within Halifax there has been an upward trend. Outside of Halifax, the six-month moving average was elevated through 2018 but has since returned to levels similar to those seen in 2017. Since the spring of 2019, the six-month moving average has been trending downward outside of Halifax with some flattening in recent months.
In urban areas, housing starts for multiples are generally higher than for singles with greater variability month-to-month. The six-month moving average for singles was relatively flat through most of 2019 and has been trending downward since May 2020. The six-month moving average for multiples rose during the summer months of 2018 and declined until the first quarter of 2019. Since then, the six-month moving average for multiples has been fluctuating.
Nationally, housing starts increased 3.0% to 214,875 in October 2020 compared to 208,715 in September 2020. Compared to a year ago, housing starts were up 5.8% across Canada.
Among all provinces, Manitoba posted the highest monthly increase (+111.0%) while Nova Scotia experienced the largest monthly decrease (-58.5%) in housing starts in October 2020.
In Jan-Oct 2020, housing starts was down 1.7% in Nova Scotia compared to the same period in 2019. Nationally, housing starts increased 1.1% in the first ten months of 2020 versus the same period in 2019. Four provinces reported annual housing start increases with Saskatchewan posting the largest increase (+24.4%). Housing starts were down in six provinces led by British Columbia (-19.9%).
During the COVID-19 pandemic housing starts declined in all provinces, falling below 10-year averages (2010-2019).
October housing starts in Canada were 6.8% above the 10-year average, while 6 of 10 provinces reported starts below the 10-year average. Manitoba posted the largest increase (+42.7%). The largest decline in housing starts (relative to the 10-year average) was reported in Newfoundland and Labrador (-64.3%). October housing starts in Nova Scotia were 33.2% below the 10-year average.
Note: Urban areas are defined as areas over 10,000 people
Source: Statistics Canada,
Table 34-10-0158-01 Canada Mortgage and Housing Corporation, housing starts, all areas, Canada and provinces, seasonally adjusted at annual rates, monthly (x 1,000)
Table 34-10-0156-01 Canada Mortgage and Housing Corporation, housing starts in all centres 10,000 and over, Canada, provinces, and census metropolitan areas, seasonally adjusted at annual rates, monthly (x 1,000)
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