January Housing Starts for the St. John's Area

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - Feb. 8, 2011) - Housing starts in the St. John's region were flat during the month of January, according to preliminary data¹ released today by Canada Mortgage and Housing Corporation (CMHC). January's housing starts totaled 105 units throughout the St. John's area compared to 104 units in January of 2010. There were four additional starts recorded outside the St. John's area, for a total of 109 provincial urban housing starts compared to 113 last January.

"An 18 per cent increase in single-detached housing construction was offset by lower multiple unit starts activity during January," said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. "While starts activity is expected to come off record highs, continued growth in employment, income and population will remain supportive of the local housing market this year," added Janes.

In urban centres across Canada, total housing starts recorded in January were down six per cent to 9,773 units compared to last year's total of 10,438. Single-detached starts declined 28 per cent to 3,463 units, while multiple starts increased 13 per cent to 6,310 units in January. In the Atlantic region, 480 new units were started in January compared to 441 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.

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
	JAN	JAN			2011	2010
	ALL URBAN CENTRES WITH POPULATIONS > 50,000
ST. JOHN'S CMA
Single	97	82	18.3	%	97	82	18.3	%
Multiple	8	22	-63.6	%	8	22	-63.6	%
TOTAL	105	104	1.0	%	105	104	1.0	%
	ALL URBAN CENTRES WITH POPULATION >10,000
ALL CENTRES
Single	101	84	20.2	%	101	84	20.2	%
Multiple	8	29	-72.4	%	8	29	-72.4	%
TOTAL	109	113	-3.5	%	109	113	-3.5	%

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