Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

January 11, 2011 09:02 ET

December Housing Starts in Prince Edward Island

CHARLOTTETOWN, PRINCE EDWARD ISLAND--(Marketwire - Jan. 11, 2011) - Residential construction in urban centres of the province increased last month compared to December 2009, according to figures released today by Canada Mortgage and Housing Corporation (CMHC). Preliminary data(1) indicate that a total of 80 units were started in December 2010 compared to 68 units for the same period in 2009.

"Both Charlottetown and Summerside recorded increases in new home activity in December compared to the same period in 2009 due to the strength of multiple starts," said Jason Beaton, market analyst with CMHC in Prince Edward Island. The most significant increase was in multiple unit construction in Summerside, which reported 10 units compared to no starts in the same month a year ago. "Despite the increase in December, urban starts on a year-to-date basis are 14.6 per cent below the pace experienced in 2009," said Beaton.

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 were down 20 per cent to 4,981 units, while multiple starts were up 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 PRINCE EDWARD ISLAND SUMMARY

  2010  2009      YEAR-TO -DATE  
    % Change     % Change
  DEC  DEC      2010 2009  
         ALL URBAN CENTRES WITH POPULATION >10,000
CHARLOTTETOWN CA            
Single 17 20 -15.0% 250 268 -6.7%
Multiple 53 46 15.2% 268 401 -33.2%
TOTAL 70 66 6.1% 518 669 -22.6%
SUMMERSIDE CA            
Single 0 2 ## 23 24 -4.2%
Multiple 10 0 - 51 0 -
TOTAL 10 2 ## 74 24 ##
ALL CENTRES            
Single 17 22 -22.7% 273 292 -6.5%
Multiple 63 46 37.0% 319 401 -20.4%
TOTAL 80 68 17.6% 592 693 -14.6%
## Indicates changes in excess of 100% which are not reported due to volatility resulting from small absolute numbers.  
 

PRELIMINARY URBAN QUARTERLY HOUSING STARTS PRINCE EDWARD ISLAND SUMMARY

  2010 2009      YEAR-TO -DATE  
    % Change     % Change
  Q4 Q4      2010 2009  
         ALL URBAN CENTRES WITH POPULATION >10,000
CHARLOTTETOWN CA            
Single 48 79 -39.2% 250 268 -6.7%
Multiple 101 155 -34.8% 268 401 -33.2%
TOTAL 149 234 -36.3% 518 669 -22.6%
SUMMERSIDE CA           -
Single 1 8 -87.5% 23 24 -4.2%
Multiple 12 0 - 51 0 -
TOTAL 13 8 62.5% 74 24 ##
ALL CENTRES            
Single 49 87 -43.7% 273 292 -6.5%
Multiple 113 155 -27.1% 319 401 -20.4%
TOTAL 162 242 -33.1% 592 693 -14.6%
## Indicates changes in excess of 100% which are not reported due to volatility resulting from small absolute numbers.
   

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