Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

February 09, 2009 23:59 ET

Halifax Housing Starts Decline in January

HALIFAX, Feb. 9 - New residential construction in Halifax
continued the slower pace in January that was set in late 2008. According to
Canada Mortgage and Housing Corporation's (CMHC's) preliminary data(1)
released today for Halifax, there were 57 total housing starts last month
compared to 78 in January 2008. Single starts decreased from 56 to 42 units
and multiples declined from 22 to 15 units.

"While there are some apartment-style projects ready to break ground in
the city, none were actually started in January," said Matthew Gilmore, senior
market analyst with CMHC's Atlantic Business Centre. "This lack of apartment
starts contributed to the overall weaker level of starts," he continued.
"Current levels of housing demand are somewhat subdued and will continue to be
lower throughout the year as forecast," Gilmore added.

In urban centres across Canada in January there were 7,244 total housing
starts, 40 per cent fewer than the 12,153 housing starts in January 2008.
There were 2,512 single-detached housing starts last month which represented a
44 per cent decline from the 4,505 single starts in January 2008. Multiple
unit housing starts were 38 per cent less last month than in January 2008,
decreasing to 4,732 from 7,648.

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.

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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2009 2008 YEAR-TO-DATE
------------ % Change ------------ % Change
JAN JAN 2009 2008
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ALL URBAN CENTRES WITH POPULATIONS GREATER THAN 50,000
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HALIFAX CMA
Single 42 56 -25.0% 42 56 -25.0%
Multiple 15 22 -31.8% 15 22 -31.8%
TOTAL 57 78 -26.9% 57 78 -26.9%
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CAPE BRETON RGM
Single 8 6 33.3% 8 6 33.3%
Multiple 6 4 50.0% 6 4 50.0%
TOTAL 14 10 40.0% 14 10 40.0%
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ALL URBAN CENTRES WITH POPULATION GREATER THAN 10,000
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ALL CENTRES(*)
Single 57 82 -30.5% 57 82 -30.5%
Multiple 23 33 -30.3% 23 33 -30.3%
TOTAL 80 115 -30.4% 80 115 -30.4%
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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.

Contact Information

  • Matthew Gilmore, Senior Market Analyst, Canada
    Mortgage and Housing Corporation, (902) 426-4686, mgilmore@cmhc-schl.gc.ca