Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

June 08, 2009 23:59 ET

St. John's Area May Housing Starts

ST. JOHN'S, June 8 - Urban housing starts decreased during the
month of May, mainly due to a large decline in multiple starts, according to
preliminary data(1) released today by Canada Mortgage and Housing Corporation
(CMHC). May's housing starts totaled 175 throughout the St. John's area versus
224 starts in May of 2008. Single-detached starts remained stable with 164
compared to 168 a year ago. However, there were only 11 multiple starts versus
56 in May of 2008. An additional three housing starts were recorded in other
urban areas across the province, for a total of 178 provincial starts compared
to 277 a year ago, but only 11 multiples were recorded versus 78 last year.

"For the St. John's metro area, May's total housing starts retreated 22
per cent compared to the same month last year, mainly due to a notable decline
in the multiple housing segment," said Chris Janes, senior market analyst with
CMHC in Newfoundland and Labrador. "Single-detached starts, a significant
segment within the local housing market, continued to perform well with only
four fewer starts versus May of 2008," added Janes.

For Canada's urban centres, total housing starts fell 46 per cent with
10,368 recorded in May compared to 19,222 during May of 2008. Single-detached
starts decreased 42 per cent to 4,939, while multiple starts of 5,429
represent a 49 per cent decline from a year ago. Throughout Atlantic Canada,
there were 760 urban housing starts posted versus 1,094 the previous May, a
decline of 31 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 - homes that will continue to create vibrant
and healthy communities and cities across the country.


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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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2009 2008 YEAR-TO-DATE
---------- % Change ------------ % Change
APR APR 2009 2008
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ALL URBAN CENTRES WITH POPULATIONS GREATER THAN 50,000
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ST. JOHN'S CMA
Single 83 52 59.6% 249 193 29.0%
Multiple 4 8 -50.0% 52 39 33.3%
TOTAL 87 60 45.0% 301 232 29.7%
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ALL URBAN CENTRES WITH POPULATION GREATER THAN 10,000
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ALL CENTRES(*)
Single 88 62 41.9% 262 207 26.6%
Multiple 4 11 -63.6% 54 42 28.6%
TOTAL 92 73 26.0% 316 249 26.9%
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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
(St. John's CMA, Bay Roberts CA, Corner Brook CA, Gander CA, Grand
Falls/Windsor CA, and Labrador City CA)

## Indicates changes in excess of 100% which are
not reported due to volatility resulting from small absolute numbers.

Data for 2006 on 2001 Census Definitions.
Data for 2008 on 2006 Preliminary Census Definitions.

Contact Information

  • Chris Janes, Senior Market Analyst - NL, CMHC
    Market Analysis Centre, (709) 772-2403, Cell: (709) 743-4636, cjanes@cmhc.ca;
    visit www.cmhc.ca or call 1-800-668-2642