Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

September 11, 2012 08:15 ET

August Housing Starts in Halifax

HALIFAX, NOVA SCOTIA--(Marketwire - Sept. 11, 2012) - New residential construction in Halifax increased last month compared to August 2011 according to preliminary data1 released today by Canada Mortgage and Housing Corporation (CMHC). There were 446 housing starts recorded in August compared to 232 last year.

"The increase in residential construction activity last month was largely attributed to an increase in multiple starts, specifically apartment-style construction," said Matthew Gilmore, senior market analyst with CMHC's Atlantic Business Centre. "There were 311 apartment starts recorded in August compared to 124 last year," added Gilmore. "In the single-detached segment of the market, starts increased for the fifth consecutive month to 97 units from 80 last year," said Gilmore.

In urban centres across Canada, total housing starts recorded in August increased 19 per cent to 17,725 units compared to 14,938 a year ago. Single-detached starts decreased five per cent to 6,015 units, while multiple starts increased 36 per cent to 11,710 units in August. In the Atlantic region, 1,112 new units were started compared to 795 during August 2011.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. 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.

For more information, visit www.cmhc.ca or call 1-800-668-2642. CMHC Market Analysis standard reports are also available free for download at CMHC Housing Market Information.

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
AUGUST AUGUST YEAR-TO-DATE
2012 2011 % Change 2012 2011 % Change
ALL URBAN CENTRES WITH POPULATIONS > 50,000
HALIFAX CMA
Single 97 80 21.3 % 652 565 15.4 %
Multiple 349 152 # # 844 1,241 -32.0 %
TOTAL 446 232 92.2 % 1,496 1,806 -17.2 %
CAPE BRETON RGM
Single 20 10 # # 109 74 47.3 %
Multiple 16 11 45.5 % 115 69 66.7 %
TOTAL 36 21 71.4 % 224 143 56.6 %
ALL URBAN CENTRES WITH POPULATION >10,000
ALL CENTRES*
Single 151 134 12.7 % 1,101 983 12.0 %
Multiple 370 172 # # 1,053 1,474 -28.6 %
TOTAL 521 306 70.3 % 2,154 2,457 -12.3 %
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.

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