February Housing Starts in New Brunswick

MONCTON, NB, March 8 /CNW/ - Residential construction in New Brunswick's urban centres declined in February, according to figures released today by Canada Mortgage and Housing Corporation (CMHC). Preliminary data(1) indicates that a total of 48 starts were recorded in February compared to 68 starts for the same period in 2009.

"A drop in multiple starts led to the overall decline for the month of February, as single starts in provincial urban centres were essentially on par with last year's monthly total," said Claude Gautreau, CMHC's senior market analyst for New Brunswick. Single starts in provincial urban centres during the month of February totaled 26 units, one more than last year's February total of 25 units.

A total of 22 multiple starts were recorded in February compared to 43 units during the same month last year, as increased activity in Fredericton and Moncton was offset by a significant decline in Saint John. "Although multiple starts were down in February, steady demand for apartment units in urban centres has led to a 32 per cent year-to-date increase in multiple starts after the first two months of the year," continued Gautreau.

In urban centres across Canada, total housing starts recorded in February increased by 83 per cent, up to 10,361 compared to last year's total of 5,660. Single-detached starts more than doubled, rising to 4,383 units from 2,114 units, while multiple unit starts were up 69 per cent to 5,978 units this year. In the Atlantic region, 430 new units were started in February 2010 compared to 272 units during the same period in 2009.

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.

    
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    (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
                            NEW BRUNSWICK SUMMARY
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                          2010    2009              YEAR-TO-DATE
                         --------------  % Change  --------------  % Change
                           FEB     FEB              2010    2009
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           ALL URBAN CENTRES WITH POPULATIONS GREATER THAN 50,000
    -------------------------------------------------------------------------
    SAINT JOHN CMA
    Single                   5      13      -61.5%    26      27       -3.7%
    Multiple                 0      39        (XX)    65      92      -29.3%
    TOTAL                    5      52      -90.4%    91     119      -23.5%
    -------------------------------------------------------------------------
    MONCTON CMA
    Single                   5       6      -16.7%    20      16       25.0%
    Multiple                14       4        (XX)    45      26       73.1%
    TOTAL                   19      10       90.0%    65      42       54.8%
    -------------------------------------------------------------------------
    FREDERICTON CA
    Single                   7       3        (XX)    29      19       52.6%
    Multiple                 8       0          -     48       2        (XX)
    TOTAL                   15       3        (XX)    77      21        (XX)
    -------------------------------------------------------------------------
             ALL URBAN CENTRES WITH POPULATION GREATER THAN 10,000*
    -------------------------------------------------------------------------
    ALL CENTRES
    Single                  26      25        4.0%    92      69       33.3%
    Multiple                22      43      -48.8%   158     120       31.7%
    TOTAL                   48      68      -29.4%   250     189       32.3%
    -------------------------------------------------------------------------
    Figures for the most recent month are preliminary and subject to revisions
due to corrections or updates from quarterly enumeration or sampling results.
    * Includes all centres with a total population of more than 10,000
    (Saint John CMA, Moncton CMA, Fredericton CA, Bathurst CA, Campbellton
    CA, Edmundston CA, and Miramichi City).
    (XX) Indicates changes in excess of 100% which are not reported due to
    volatility resulting from small absolute numbers.
    

For further information: Claude Gautreau, CMHC Market Analysis Centre, [phone], Cell: [phone], [email protected]