Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

March 08, 2011 08:15 ET

February Housing Starts for the St. John's Area

ST. JOHN'S, NEWFOUNDLAND and LABRADOR--(Marketwire - March 8, 2011) - Housing starts in the St. John's region decreased during the month of February, according to preliminary data(1) released today by Canada Mortgage and Housing Corporation (CMHC). February's housing starts totaled 52 units throughout the St. John's area compared to 67 units in February of 2010. There were no additional starts recorded in urban centres outside the St. John's area.

"New home construction activity took a breather during February, with starts down 22 per cent," said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. "While starts activity is retreating from recent highs, growth in employment, income and population is expected to support the local housing market again this year," added Janes.

In urban centres across Canada, total housing starts recorded in February were down seven per cent to 9,900 units compared to last year's total of 10,637. Single-detached starts declined 27 per cent to 3,300 units, while multiple starts increased eight per cent to 6,600 units in February. In the Atlantic region, 269 new units were started compared to 453 units during February 2010.

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 NEWFOUNDLAND & LABRADOR SUMMARY

  2011 2010   YEAR-TO -DATE  
      % Change     % Change
  FEB FEB   2011 2010  
        ALL URBAN CENTRES WITH POPULATIONS > 50,000
ST. JOHN'S CMA            
Single 34 57 -40.4% 131 139 -5.8%
Multiple 18 10 80.0% 26 32 -18.8%
TOTAL 52 67 -22.4% 157 171 -8.2%
        ALL URBAN CENTRES WITH POPULATION >10,000
ALL CENTRES*            
Single 34 58 -41.4% 135 142 -4.9%
Multiple 18 10 80.0% 26 39 -33.3%
TOTAL 52 68 -23.5% 161 181 -11.0%

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 (St . John's CMA, Corner Brook CA, Gander MD, Grand Falls/Windsor CA, and Bay Roberts CA)

Contact Information

  • Chris Janes
    Senior Market Analyst
    CMHC Market Analysis Centre
    709-772-2403
    Cell: 709-743-4636
    cjanes@cmhc-schl.gc.ca