Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

March 08, 2012 08:15 ET

February Housing Starts for the St. John's Area

ST. JOHN'S, NEWFOUNDLAND and LABRADOR--(Marketwire - March 8, 2012) - Housing starts in the St. John's region were flat during the month of February, according to preliminary data1 released today by Canada Mortgage and Housing Corporation (CMHC). February's housing starts totalled 51 units throughout the St. John's area compared to 52 units in February 2011. There were no starts in urban centres outside the St. John's region.

Single-detached and multiple unit construction activity were mixed throughout the St. John's area in February. Multiple starts decreased 56 per cent to eight units, while single-detached starts increased 26 per cent to 43 units. "While multiples remained volatile, growth in population, income and employment continued to support the single-detached segment of the local housing market during February," said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador.

In urban centres across Canada, total housing starts recorded in February were up 15 per cent to 11,498 units compared to 10,024 a year ago. Single-detached starts increased two per cent to 3,487 units, while multiple starts increased 21 per cent to 8,011 units in February. In the Atlantic region, 256 new units were started compared to 278 during February 2011.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. 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 informed decisions.

For more information, visit www.cmhc.ca or call 1-800-668-2642. CMHC Market Analysis standard reports are also available free for download at CMHC Housing Market Information.

(1) Figures for the most recent month are preliminary and subject to revisions due to corrections or updates from quarterly enumeration or sampling results.

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PRELIMINARY URBAN MONTHLY HOUSING STARTS
NEWFOUNDLAND & LABRADOR SUMMARY
2012 2011 YEAR-TO-DATE
% Change % Change
FEB FEB 2012 2011
ALL URBAN CENTRES WITH POPULATIONS > 50,000
ST. JOHN'S CMA
Single 43 34 26.5% 101 131 -22.9%
Multiple 8 18 -55.6% 129 26 ##
TOTAL 51 52 -1.9% 230 157 46.5%
ALL URBAN CENTRES WITH POPULATION >10,000
ALL CENTRES*
Single 43 36 19.4% 106 138 -23.2%
Multiple 8 19 -57.9% 136 27 ##
TOTAL 51 55 -7.3% 242 165 46.7%

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)

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

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