April Housing Starts in Halifax

HALIFAX, NOVA SCOTIA--(Marketwire - May 9, 2011) - New residential construction in Halifax increased last month compared to April 2010 according to preliminary data¹ released today by Canada Mortgage and Housing Corporation (CMHC). There were 244 housing starts last month, compared to 223 recorded in April of 2010.

"New home construction in Halifax increased in April compared to last year," said Tim Andrews, market analyst with CMHC's Atlantic Business Centre. "April's activity was supported by a high level of multiple starts as builders broke ground on 160 new apartment-style units and 22 new semi-detached and row units," added Andrews. "In the singles market, starts declined from 80 to 62 units last month," Andrews said.

In urban centres across Canada, total housing starts recorded in April were down 15 per cent to 13,528 units compared to last year's total of 15,897. Single-detached starts declined 27 per cent to 5,382 units, while multiple starts decreased four per cent to 8,146 units in 2011. In the Atlantic region, 551 new units were started in April 2011 compared to 640 units during the same period in 2010.

As Canada's national housing agency, CMHC draws on 65 years of experience to help Canadians access a variety of high 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 informed decisions.

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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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, East Hants MD, Kings Subd. A SCM, Lunenburg MD, Queens RGM, West Hants MD, Yarmouth MD).

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