Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

February 08, 2012 08:26 ET

January Housing Starts for the St. John's Area

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - Feb. 8, 2012) - Housing starts in the St. John's region increased during the month of January, according to preliminary data1 released today by Canada Mortgage and Housing Corporation (CMHC). January's housing starts totalled 179 units throughout the St. John's area compared to 105 units in January 2011. There were 12 additional starts in urban centres outside the St. John's region, for a total of 191 provincial urban housing starts.

Single-detached and multiple unit construction activity were mixed throughout the St. John's area in January. Multiple starts led the increase, with 121 units recorded versus eight a year ago, while single-detached starts decreased 40 per cent to 58 units. "Lower single-detached construction activity in January was offset by significantly higher multiple starts, due to the recording of two condo apartment developments in the city," said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador.

In urban centres across Canada, total housing starts recorded in January were up 24 per cent to 12,220 units compared to 9,823 a year ago. Single-detached starts increased one per cent to 3,596 units, while multiple starts increased 37 per cent to 8,624 units in January. In the Atlantic region, 440 new units were started compared to 500 during January 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 % Change YEAR-TO-DATE % Change
JAN JAN 2012 2011
ALL URBAN CENTRES WITH POPULATIONS > 50,000
ST. JOHN'S CMA
Single 58 97 -40.2% 58 97 -40.2%
Multiple 121 8 ## 121 8 ##
TOTAL 179 105 70.5% 179 105 70.5%
ALL URBAN CENTRES WITH POPULATION >10,000
ALL CENTRES*
Single 63 102 -38.2% 63 102 -38.2%
Multiple 128 8 ## 128 8 ##
TOTAL 191 110 73.6% 191 110 73.6%
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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