Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

September 09, 2010 09:37 ET

August Housing Starts in Prince Edward Island

CHARLOTTETOWN, PRINCE EDWARD ISLAND--(Marketwire - Sept. 9, 2010) - Residential construction in urban centres of the province decreased last month compared to August 2009, according to figures released today by Canada Mortgage and Housing Corporation (CMHC). Preliminary data(1) indicate that a total of 74 units were started in August 2010 compared to 94 units for the same period last year.

"Similar to July, the number of housing starts in Charlottetown was down, while Summerside experienced an increase," said Ralph Freeze, market analyst with CMHC in Prince Edward Island. "Both single-detached starts and multiple unit construction were lower in the capital region of Charlottetown. Summerside reported slightly more starts for both single and multiple unit construction in August. On a year-to-date basis, urban starts are 4.3 per cent ahead of last year's pace. The gap between this year and last year is narrowing as the year progresses," said Freeze.

In urban centres across Canada, total housing starts recorded in August were up 12 per cent to 14,253 units compared to last year's total of 12,734. Single-detached starts were up 10 per cent, rising to 6,123 units from 5,581 units, while multiple starts were up 14 per cent to 8,130 units this year. In the Atlantic region, 847 new units were started in August 2010 compared to 907 units during the same period in 2009.

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. 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 vital 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.

PRELIMINARY URBAN MONTHLY HOUSING STARTS PRINCE EDW ARD ISLAND SUMMARY

  2010 2009   YEAR-TO-DATE  
      % Change     % Change
  AUG AUG   2010 2009  
ALL URBAN CENTRES WITH POPULATION >10,000  
CHARLOTTETOWN CA            
Single 31 43 -27.9% 178 164 8.5%
Multiple 38 51 -25.5% 161 196 -17.9%
TOTAL 69 94 -26.6% 339 360 -5.8%
SUMMERSIDE CA            
Single 1 0 - 20 16 25.0%
Multiple 4 0 - 33 0 -
TOTAL 5 0 - 53 16 ##
ALL CENTRES            
Single 32 43 -25.6% 198 180 10.0%
Multiple 42 51 -17.6% 194 196 -1.0%
TOTAL 74 94 -21.3% 392 376 4.3%

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

For further information, contact: Ralph Freeze
  MARKET ANALYST - PRINCE EDWARD ISLAND
  CANADA MORTGAGE AND HOUSING CORPORATION
  (506) 851-4655

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Contact Information

  • Information on this release:
    Canada Mortgage and Housing Corporation
    Ralph Freeze
    Market Analyst
    506-851-4655
    rfreeze@cmhc-schl.gc.ca