Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

March 08, 2011 08:50 ET

February Housing Starts in Halifax

HALIFAX, NOVA SCOTIA--(Marketwire - March 8, 2011) - New residential construction in Halifax decreased last month compared to February 2010 according to preliminary data(1) released today by Canada Mortgage and Housing Corporation (CMHC). There were 158 housing starts last month, compared to 292 recorded in February of 2010.

"New home construction decreased significantly in February as compared to the relatively high level of activity in February of 2010," said Matthew Gilmore, senior market analyst with CMHC's Atlantic Business Centre. "On the multiples side, activity was supported by apartment construction that was well-above the ten-year monthly average of 59 starts," Gilmore added. "Single-detached construction fell from 80 units last year to 29 units in February," Gilmore said.

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 2011. In the Atlantic region, 269 new units were started in February 2011 compared to 453 units during the same period in 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.  

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  2011 2010      YEAR-TO -DATE  
         % Change     % Change
  FEB FEB      2011 2010  
HALIFAX CMA            
Single 29 80 -63.8% 73 135 -45.9%
Multiple 129 212 -39.2% 332 220 50.9%
TOTAL 158 292 -45.9% 405 355 14.1%
CAPE BRETON RGM            
Single 7 4 75.0% 10 10 0.0%
Multiple 2 2 0.0% 8 6 33.3%
TOTAL 9 6 50.0% 18 16 12.5%
ALL CENTRES*            
Single 44 120 -63.3% 105 211 -50.2%
Multiple 132 223 -40.8% 343 242 41.7%
TOTAL 176 343 -48.7% 448 453 -1.1%

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.

Contact Information

  • Matthew Gilmore
    Senior Market Analyst
    CMHC Market Analysis Centre