August Housing Starts in Halifax

HALIFAX, NOVA SCOTIA--(Marketwire - Sept. 9, 2011) - New residential construction in Halifax increased last month compared to August 2010 according to preliminary data⁽¹⁾ released today by Canada Mortgage and Housing Corporation (CMHC). There were 232 housing starts last month, compared to 134 recorded in August of 2010.

"The increase in residential construction in Halifax last month was due to continued strength in rental apartment starts," said Matthew Gilmore, senior market analyst with CMHC's Atlantic Business Centre. "Apartment construction has been steady all year and is up nearly 50 per cent compared to last year," added Gilmore. "Single-detached starts were down for the sixth month this year as the demand for new singles continues to be impacted by slow employment growth," Gilmore said.

In urban centres across Canada, total housing starts recorded in August were down three per cent to 14,360 units compared to last year's total of 14,855. Single-detached starts declined nine per cent to 5,946 units, while multiple starts increased one per cent to 8,414 units in 2011. In the Atlantic region, 755 new units were started in August 2011 compared to 936 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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PRELIMINARY URBAN MONTHLY HOUSING STARTS NOVA SCOTIA SUMMARY

	2011	2010		YEAR-TO -DATE
			% Change			% Change
	AUGUST	AUGUST		2011	2010
	ALL URBAN CENTRES WITH POPULATIONS > 50,000
HALIFAX CMA
Single	80	112	-28.6%	565	687	-17.8%
Multiple	152	22	##	1,241	945	31.3%
TOTAL	232	134	73.1%	1,806	1,632	10.7%
CAPE BRETON RGM
Single	10	12	-16.7%	74	84	-11.9%
Multiple	11	8	37.5%	69	58	19.0%
TOTAL	21	20	5.0%	143	142	0.7%
	ALL URBAN CENTRES WITH POPULATION >10,000
ALL CENTRES*
Single	108	193	-44.0%	919	1,223	-24.9%
Multiple	170	47	##	1,467	1,159	26.6%
TOTAL	278	240	15.8%	2,386	2,382	0.2%

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.