PEI Housing Starts in April

CHARLOTTETOWN, PE, May 10 /CNW/ - Residential construction in urban centres of the province increased last month compared to April 2009, according to figures released today by Canada Mortgage and Housing Corporation (CMHC). Preliminary data(1) indicate that a total of 26 units were started in April 2010 compared to 23 units last year.

"There was a considerable increase in single-detached construction last month, especially in Charlottetown," said Ralph Freeze, market analyst with CMHC in Prince Edward Island. "There were 22 units started in April, an increase from the 14 units reported a year ago. Summerside recorded four single-detached starts, which is up from three reported last year. There were no multiple units started in either market in April of this year. On a year-to-date basis, urban starts remain ahead of last year's pace," said Freeze.

In urban centres across Canada, total housing starts recorded in April increased to 14,995 compared to last year's total of 8,387. Single-detached starts increased to 6,774 units from 3,788 units, while multiple unit starts rose to 8,221 units this year from 4,599 units. In the Atlantic region, 573 new units were started in April 2010 compared to 419 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 - homes that will continue to create vibrant and healthy communities and cities across the country.

    
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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 PRINCE EDWARD ISLAND SUMMARY
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                              2010    2009            YEAR-TO-DATE
                              ------------  % Change  ------------  % Change
                               APR     APR            2010    2009
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            ALL URBAN CENTRES WITH POPULATION GREATER THAN 10,000
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    CHARLOTTETOWN CA
    Single                      22      14     57.1%    40      31     29.0%
    Multiple                     0       6      (xx)     4       9    -55.6%
    TOTAL                       22      20     10.0%    44      40     10.0%
    -------------------------------------------------------------------------
    SUMMERSIDE CA
    Single                       4       3     33.3%     7       6     16.7%
    Multiple                     0       0        -      4       0        -
    TOTAL                        4       3     33.3%    11       6     83.3%
    -------------------------------------------------------------------------
    ALL CENTRES*
    Single                      26      17     52.9%    47      37     27.0%
    Multiple                     0       6      (xx)     8       9    -11.1%
    TOTAL                       26      23     13.0%    55      46     19.6%
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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]