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.