September Housing Starts in Halifax

HALIFAX , Oct. 8 /CNW/ - Residential construction activity in Halifax increased last month compared to September 2008 . According to Canada Mortgage and Housing Corporation's (CMHC's) preliminary data(1) released today for Halifax , there were 299 total housing starts last month, compared with 249 in September 2008 .

Similar to August, overall starts were bolstered by another sharp rise in multiple starts in September. Multiple starts increased from 116 in September 2008 to 200 last month. With 99 units, single-detached starts saw another monthly decrease over 25 per cent.

"Just as we saw in August, the large increase in residential construction in September was due to the start of 180 apartment-style units in Halifax ," said Matthew Gilmore , senior market analyst with CMHC's Atlantic Business Centre. "The start of these new buildings is in line with our expectation that the second half of the year would see some additional investments in this segment of the market," added Gilmore.

In urban centres across Canada , total housing starts in September were down 26 per cent to 13,024 units compared to last year's monthly total of 17,661. Single-detached starts were up 7 per cent to 6,741 units, while multiple starts were down 45 per cent in September to 6,283 units compared to 11,352 units during the same period last year. In the Atlantic region, 970 new units were started in September compared to 1,030 units in September 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.

    
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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
                             NOVA SCOTIA SUMMARY
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                           2009    2008              YEAR-TO-DATE
                           ------------   % Change   ------------   % Change
                            SEP     SEP              2009    2008
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           ALL URBAN CENTRES WITH POPULATIONS GREATER THAN 50,000
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    HALIFAX CMA

    Single                   99     133     -25.6%    625     930     -32.8%
    Multiple                200     116      72.4%    701     761      -7.9%
    TOTAL                   299     249      20.1%  1,326   1,691     -21.6%
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    CAPE BRETON RGM

    Single                    7       7       0.0%     90     115     -21.7%
    Multiple                  2       6     -66.7%     42      59     -28.8%
    TOTAL                     9      13     -30.8%    132     174     -24.1%
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            ALL URBAN CENTRES WITH POPULATION GREATER THAN 10,000
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    ALL CENTRES*

    Single                  181     233     -22.3%  1,170   1,602     -27.0%
    Multiple                273     143      90.9%    900   1,005     -10.4%
    TOTAL                   454     376      20.7%  2,070   2,607     -20.6%
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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.

    *  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]