December Housing Starts in Halifax

HALIFAX, NOVA SCOTIA--(Marketwire - Jan. 11, 2011) - New residential construction in Halifax recorded no change last month compared to December 2009 according to preliminary data⁽¹⁾ released today by Canada Mortgage and Housing Corporation (CMHC). There were 106 housing starts last month, the same amount recorded in December of 2009. Single-detached starts decreased from 92 to 90 units while multiple starts increased from 14 to 16 units.

On a full-year basis, single starts increased 12 per cent in Nova Scotia's urban centres and 19 per cent in Halifax, while multiple starts were up 48 and 57 per cent in each area, respectively.

"In Halifax, single-detached starts were up 27 per cent after three quarters of the year, however a slight decline in the fourth quarter resulted in singles finishing the year up 19 per cent compared to 2009," said Matthew Gilmore, senior market analyst with CMHC's Atlantic Business Centre.

"On the multiples side, starts in 2010 were largely supported by a high level of apartment-style construction. Builders responded to an increase in demand for rental accommodations as construction began on 1,043 apartment units last year," Gilmore added.

In urban centres across Canada, total housing starts recorded in December were down two per cent to 12,040 units compared to 2009's total of 12,268. Single-detached starts declined 20 per cent to 4,981 units, while multiple starts increased 17 per cent to 7,059 units in 2010. In the Atlantic region, 611 new units were started in December 2010 compared to 672 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.

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PRELIMINARY URBAN MONTHLY HOUSING STARTS NOVA SCOTIA SUMMARY

	2010	2009		YEAR-TO -DATE
			% Change			% Change
	DEC	DEC		2010	2009
	ALL URBAN CENTRES WITH POPULATIONS > 50,000
HALIFAX CMA
Single	90	92	-2.2%	1,039	875	18.7%
Multiple	16	14	14.3%	1,351	858	57.5%
TOTAL	106	106	0.0%	2,390	1,733	37.9%
CAPE BRETON RGM
Single	11	14	-21.4%	135	145	-6.9%
Multiple	2	7	-71.4%	81	83	-2.4%
TOTAL	13	21	-38.1%	216	228	-5.3%
	ALL URBAN CENTRES WITH POPULATION >10,000
ALL CENTRES*
Single	159	168	-5.4%	1,869	1,663	12.4%
Multiple	24	31	-22.6%	1,669	1,124	48.5%
TOTAL	183	199	-8.0%	3,538	2,787	26.9%

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.