PEI Housing Starts in February

CHARLOTTETOWN, March 8 /CNW/ - Residential construction in urban centres of the province decreased when compared to the same period last year, according to figures released today by Canada Mortgage and Housing Corporation (CMHC). Preliminary data(1) indicate that a total of two units were started in February 2010 compared to four during the same month last year.

"Charlottetown and Summerside each had one new single-detached housing start during the month," said Ralph Freeze, market analyst with CMHC in Prince Edward Island. Charlottetown had four starts in February last year, while Summerside recorded none.. There were no multiple unit starts recorded in either centre during February of this year. "On a year-to-date basis, urban starts remain ahead of last year's pace thanks to the activity in January," said Freeze.

In urban centres across Canada, total housing starts recorded in February increased by 83 per cent, to 10,361 compared to last year's total of 5,660. Single-detached starts increased 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 - homes that will continue to create vibrant and healthy communities and cities across the country.

    
    (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
                              FEB     FEB            2010    2009
    -------------------------------------------------------------------------
            ALL URBAN CENTRES WITH POPULATION GREATER THAN 10,000
    -------------------------------------------------------------------------
    CHARLOTTETOWN CA
    Single                      1       4    -75,0%    15      15       0,0%
    Multiple                    0       0        -      2       0         -
    TOTAL                       1       4    -75,0%    17      15      13,3%
    -------------------------------------------------------------------------
    SUMMERSIDE CA
    Single                      1       0        -      2       2       0,0%
    Multiple                    0       0        -      4       0         -
    TOTAL                       1       0        -      6       2       (XX)
    -------------------------------------------------------------------------
    ALL CENTRES(X)
    Single                      2       4    -50,0%    17      17       0,0%
    Multiple                    0       0        -      6       0         -
    TOTAL                       2       4    -50,0%    23      17      35,3%
    -------------------------------------------------------------------------
    (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]