Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

June 09, 2009 23:59 ET

PEI Housing Starts in June

CHARLOTTETOWN, July 9 - Total urban housing starts in PEI for the
month of June were up compared to the same period last year. According to
figures released today by Canada Mortgage and Housing Corporation (CMHC),
preliminary data indicates that a total of 103 starts were recorded in June of
2009 compared to only 57 starts during the same period last year.

"Multiple starts in the Charlottetown area, with construction starting on
several apartment structures, were the main reason for the increased activity
observed in June," said Jason Beaton, market analyst with CMHC in Prince
Edward Island. Total housing starts in Charlottetown reached 98 units in June,
up from 51 units started last year. In Summerside, total housing starts
decreased to five units this month, down from six units during the same period
a year ago. On a year-to-date basis, 226 urban housing starts have been
recorded in PEI compared to 211 starts during the same period last year. "With
a strong showing in June, residential construction activity after the first
six months of the year has pulled ahead of last year's level despite the fact
that activity is expected to remain below 2008 levels as the rest of the year
unfolds," continued Beaton.

In urban centres across Canada, total housing starts in June declined by
36 per cent, down to 11,686 compared to last year's total of 18,338.
Single-detached starts decreased 27 per cent to 5,716 units, while multiple
unit starts were down 43 per cent from 10,455 units last year to 5,970 units
this year. In the Atlantic region, 904 new units were started in June 2009
compared to 1,092 units during the same period in 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 - 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
-------------------------------------------------------------------------
2009 2008 YEAR-TO-DATE
-------------- % Change -------------- % Change
JUN JUN 2009 2008
-------------------------------------------------------------------------
ALL URBAN CENTRES WITH POPULATION GREATER THAN 10,000
-------------------------------------------------------------------------
CHARLOTTETOWN CA
Single 24 27 -11.1% 90 114 -21.1%
Multiple 74 24 (XX) 122 68 79.4%
TOTAL 98 51 92.2% 212 182 16.5%
-------------------------------------------------------------------------
SUMMERSIDE CA
Single 5 6 -16.7% 14 21 -33.3%
Multiple 0 0 - 0 8 (XX)
TOTAL 5 6 -16.7% 14 29 -51.7%
-------------------------------------------------------------------------
ALL CENTRES(*)
Single 29 33 -12.1% 104 135 -23.0%
Multiple 74 24 (XX) 122 76 60.5%
TOTAL 103 57 80.7% 226 211 7.1%
-------------------------------------------------------------------------
(XX) Indicates changes in excess of 100% which are not reported due to
volatility resulting from small absolute numbers.



-------------------------------------------------------------------------
PRELIMINARY URBAN QUARTERLY HOUSING STARTS
PRINCE EDWARD ISLAND SUMMARY
-------------------------------------------------------------------------
2009 2008 YEAR-TO-DATE
-------------- % Change -------------- % Change
Q2 Q2 2009 2008
-------------------------------------------------------------------------
ALL URBAN CENTRES WITH POPULATION GREATER THAN 10,000
-------------------------------------------------------------------------
CHARLOTTETOWN CA
Single 73 90 -18.9% 90 114 -21.1%
Multiple 119 53 (XX) 122 68 79.4%
TOTAL 192 143 34.3% 212 182 16.5%
-------------------------------------------------------------------------
SUMMERSIDE CA -
Single 11 19 -42.1% 14 21 -33.3%
Multiple 0 8 (XX) 0 8 (XX)
TOTAL 11 27 -59.3% 14 29 -51.7%
-------------------------------------------------------------------------
ALL CENTRES(*)
Single 84 109 -22.9% 104 135 -23.0%
Multiple 119 61 95.1% 122 76 60.5%
TOTAL 203 170 19.4% 226 211 7.1%
-------------------------------------------------------------------------
(XX) Indicates changes in excess of 100% which are not reported due to
volatility resulting from small absolute numbers.

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