Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

January 09, 2009 23:59 ET

Housing Starts Increased in December

CHARLOTTETOWN, Jan. 9 - Residential construction in urban centres
of the province increased in December, according to figures released today by
Canada Mortgage and Housing Corporation (CMHC). Preliminary data(1) indicates
that a total of 43 starts were reported in December compared to 24 starts for
the same period last year.

"The increase in residential starts in December was the result of more
activity in the Charlottetown area", said Jason Beaton, Market Analyst with
CMHC in Prince Edward Island. Multiple starts in Charlottetown reached 16
units, from no units a year ago, while in Summerside multiple starts moderated
to 4 units from 6 units during the same period last year. Single starts in the
Charlottetown area ascended to 22 units in December 2008 from 17 units in
2007. On a yearly basis, total urban starts in PEI reached 495 units in 2008,
a 2.3 per cent increase when compared to 2008. This increase came as a result
of additional multiple starts in the Charlottetown area. "New urban housing
starts exceeded the 2007 level of 484 units, and finished 2008 above the 10
year average", continued Beaton.

In urban centres across Canada, 10,487 total housing starts were recorded
in December resulting in a 6 per cent decline from the 11,157 starts in
December 2007. Single-detached starts decreased 29 per cent to 4,335 units,
while multiple unit starts were up 22 per cent: from 5,061 last year to 6,152
units this year. In the Atlantic region, 574 new units were started in
December 2008 compared to 651 units during the same period in 2007.



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
PRINCE EDWARD ISLAND SUMMARY
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2008 2007 YEAR-TO-DATE
-------------- % Change -------------- % Change
DEC DEC 2008 2007
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ALL URBAN CENTRES WITH POPULATION greater than 10,000
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CHARLOTTETOWN CA
Single 22 17 29.4% 280 295 -5.1%
Multiple 16 0 - 146 99 47.5%
TOTAL 38 17 (XX) 426 394 8.1%
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SUMMERSIDE CA
Single 1 1 0.0% 41 38 7.9%
Multiple 4 6 -33.3% 28 52 -46.2%
TOTAL 5 7 -28.6% 69 90 -23.3%
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ALL CENTRES
Single 23 18 27.8% 321 333 -3.6%
Multiple 20 6 (XX) 174 151 15.2%
TOTAL 43 24 79.2% 495 484 2.3%
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(XX) Indicates changes in excess of 100% which are not reported due to
volatility resulting from small absolute numbers.


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PRELIMINARY URBAN QUARTERLY HOUSING STARTS
PRINCE EDWARD ISLAND SUMMARY
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2008 2007 YEAR-TO-DATE
-------------- % Change -------------- % Change
Q4 Q4 2008 2007
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ALL URBAN CENTRES WITH POPULATION greater than 10,000
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CHARLOTTETOWN CA
Single 69 82 -15.9% 280 295 -5.1%
Multiple 64 19 (XX) 146 99 47.5%
TOTAL 133 101 31.7% 426 394 8.1%
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SUMMERSIDE CA
Single 10 15 -33.3% 41 38 7.9%
Multiple 4 29 -86.2% 28 52 -46.2%
TOTAL 14 44 -68.2% 69 90 -23.3%
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ALL CENTRES
Single 79 97 -18.6% 321 333 -3.6%
Multiple 68 48 41.7% 174 151 15.2%
TOTAL 147 145 1.4% 495 484 2.3%
-------------------------------------------------------------------------
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(XX) Indicates changes in excess of 100% which are not reported due to
volatility resulting from small absolute numbers.

Contact Information

  • visit www.cmhc.ca or call 1-800-668-2642; Jason
    Beaton, Market Analyst - Prince Edward Island, Canada Mortgage and Housing
    Corporation, (506) 851-6047