St. John's Area February Housing Starts

ST. JOHN'S, March 8 /CNW/ - Urban housing starts increased during the month of February, according to preliminary data(1) released today by Canada Mortgage and Housing Corporation (CMHC). February's housing starts totaled 68 throughout the St. John's area versus 45 starts in February of 2009. There were no additional starts recorded outside the St. John's area.

"February's brisk residential construction activity was attributed to a combination of continued demand and an unseasonably mild winter month," said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. "Local economic and demographic conditions continue to support new home construction throughout the St. John's region and the first two months of 2010 indicate a solid start to the year," added Janes.

For Canada's urban centres, total housing starts increased 83 per cent with 10,361 recorded in February compared to 5,660 during February of 2009. Single-detached starts increased 107 per cent to 4,383, while multiple starts of 5,978 represent a 69 per cent climb from a year ago. Throughout Atlantic Canada, there were 430 urban housing starts posted versus 272 the previous February, an increase of 58 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.

    
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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
                       NEWFOUNDLAND & LABRADOR 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
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     ST. JOHN'S CMA
     Single               58        39       48.7%      140    127    10.2%
     Multiple             10         6       66.7%       32     42   -23.8%
     TOTAL                68        45       51.1%      172    169     1.8%
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            ALL URBAN CENTRES WITH POPULATION GREATER THAN 10,000
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     ALL CENTRES*
     Single               58        39       48.7%      145    133     9.0%
     Multiple             10         6       66.7%       33     44   -25.0%
     TOTAL                68        45       51.1%      178    177     0.6%
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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.
    (XX) Indicates changes in excess of 100% which are not reported due to
         volatility resulting from small absolute numbers.
    

For further information: Chris Janes, Senior Market Analyst - NL, CMHC Market Analysis Centre, [phone], Cell: [phone], [email protected]; visit www.cmhc.ca or call 1-800-668-2642