January Housing Starts in Halifax

HALIFAX , Feb. 8 /CNW/ - New residential construction in Halifax increased last month compared to January 2009 . According to Canada Mortgage and Housing Corporation's (CMHC's) preliminary data(1) released today for Halifax , there were 63 housing starts last month, up 10.5 per cent from the 57 starts recorded in January 2009 . Single starts increased from 42 to 55 units while multiple starts declined from 15 to 8 units.

"Despite the fact that there were no apartment starts last month, the industry still saw an overall increase in new construction activity," said Matthew Gilmore , senior market analyst with CMHC's Atlantic Business Centre. "The rise in singles activity in January is reflective of modest gains in new construction forecast for 2010," Gilmore added.

In urban centres across Canada in January there were 10,218 total housing starts, 40 per cent more than the 7,309 starts recorded in January of 2009. There were 4,723 single-detached starts last month, an increase of 81 per cent from January of 2009. Multi-residential starts were up 17 per cent to 5,495 in January of 2010. In Atlantic Canada , there were 424 urban housing starts posted versus 355 the previous January, an increase of 19 per cent.

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.

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

    
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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.

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                   PRELIMINARY URBAN MONTHLY HOUSING STARTS
                             NOVA SCOTIA SUMMARY
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                             2010    2009            YEAR-TO-DATE
                             ------------  % Change  ------------  % Change
                              JAN     JAN            2010    2009
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           ALL URBAN CENTRES WITH POPULATIONS GREATER THAN 50,000
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    HALIFAX CMA
    Single                     55      42      31,0%   55      42      31,0%
    Multiple                    8      15     -46,7%    8      15     -46,7%
    TOTAL                      63      57      10,5%   63      57      10,5%
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    CAPE BRETON RGM
    Single                      6       8     -25,0%    6       8     -25,0%
    Multiple                    4       6     -33,3%    4       6     -33,3%
    TOTAL                      10      14     -28,6%   10      14     -28,6%
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            ALL URBAN CENTRES WITH POPULATION GREATER THAN 10,000
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    ALL CENTRES(X)
    Single                     75      68      10,3%   75      68      10,3%
    Multiple                   16      23     -30,4%   16      23     -30,4%
    TOTAL                      91      91       0,0%   91      91       0,0%
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    Figures for the most recent month are preliminary and subject to
    revisions due to corrections or updates from quarterly enumeration or
    sampling results.

    (X)  Includes all centres with a total population of more than 10,000
         (Halifax CMA, Cape Breton RGM, Truro CA, Kentville CA and New
         Glasgow CA, Chester MD CA, East Hants MD CA, Kings Subd. A SC CA,
         Lunenburg MD CA, Queens RGM CA, West Hants MD CA, Yarmouth MD CA).

    (XX) Indicates changes in excess of 100% which are not reported due to
         volatility resulting from small absolute numbers.
    

For further information: Matthew Gilmore, Senior Market Analyst, Canada Mortgage and Housing Corporation, [phone], [email protected]