December Housing Starts in PEI

CHARLOTTETOWN, Jan. 11 /CNW/ - Residential construction in urban centres of the province increased in December, according to figures released today by Canada Mortgage and Housing Corporation (CMHC). Preliminary data(1) indicates that a total of 68 starts were reported in December compared to 43 starts for the same period in 2008.

"The increase in residential starts in December was primarily the result of more apartment construction in the Charlottetown area," said Ralph Freeze , market analyst with CMHC for Prince Edward Island . Multiple starts in Charlottetown rose to 46 units from 16 units the previous year, while in Summerside there were no multiple starts compared to 4 units in December 2008 . Single starts in the Charlottetown area remained relatively stable at 20 units in December 2009 compared to 22 units in 2008. On a yearly basis, total urban starts in PEI reached 693 units in 2009, up from 495 units the previous year. This increase came as a result of additional multiple starts in the Charlottetown area.

In urban centres across Canada , total housing starts in December were up to 12,262 units compared to 2008's total of 10,488. Single-detached starts were up 44 per cent to 6,222 units, while multiple unit starts were down two per cent from 6,153 units in 2008 to 6,040 units in December 2009 . In the Atlantic region, 672 new units were started in December 2009 compared to 574 units during the same period in 2008.

As Canada's national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions.

    
    (1) Figures for the most recent month are preliminary and subject to
        revisions due to corrections or updates from quarterly enumeration or
        sampling results.
    

For more information, visit www.cmhc.ca or call 1-800-668-2642.

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                   PRELIMINARY URBAN MONTHLY HOUSING STARTS
                         PRINCE EDWARD ISLAND SUMMARY
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                           2009    2008              YEAR-TO-DATE
                          --------------  % Change  -------------- % Change
                            DEC     DEC              2009    2008
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            ALL URBAN CENTRES WITH POPULATION GREATER THAN 10,000
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    CHARLOTTETOWN CA
    Single                   20      22       -9.1%   268     280      -4.3%
    Multiple                 46      16         XX    401     146        XX
    TOTAL                    66      38       73.7%   669     426      57.0%
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    SUMMERSIDE CA
    Single                    2       1         XX     24      41     -41.5%
    Multiple                  0       4         XX      0      28        XX
    TOTAL                     2       5      -60.0%    24      69     -65.2%
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    ALL CENTRES*
    Single                   22      23       -4.3%   292     321      -9.0%
    Multiple                 46      20         XX    401     174        XX
    TOTAL                    68      43       58.1%   693     495      40.0%
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    (XX) Indicates changes in excess of 100% which are not reported due to
         volatility resulting from small absolute numbers.


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                 PRELIMINARY URBAN QUARTERLY HOUSING STARTS
                         PRINCE EDWARD ISLAND SUMMARY
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                           2009    2008              YEAR-TO-DATE
                          --------------  % Change  -------------- % Change
                             Q4      Q4              2009    2008
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             ALL URBAN CENTRES WITH POPULATION GREATER THAN 10,000
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    CHARLOTTETOWN CA
    Single                  79       69       14.5%   268     280      -4.3%
    Multiple               155       64         XX    401     146        XX
    TOTAL                  234      133       75.9%   669     426      57.0%
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    SUMMERSIDE CA
    Single                   8       10      -20.0%    24      41     -41.5%
    Multiple                 0        4         XX      0      28        XX
    TOTAL                    8       14      -42.9%    24      69     -65.2%
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    ALL CENTRES*
    Single                  87       79       10.1%   292     321      -9.0%
    Multiple               155       68         XX    401     174        XX
    TOTAL                  242      147       64.6%   693     495      40.0%
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    (XX) Indicates changes in excess of 100% which are not reported due to
         volatility resulting from small absolute numbers.
    

For further information: Ralph Freeze, Market Analyst, Canada Mortgage and Housing Corporation, [phone], [email protected]