Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

February 08, 2012 08:58 ET

January Housing Starts in Halifax

HALIFAX, NOVA SCOTIA--(Marketwire - Feb. 8, 2012) - New residential construction in Halifax decreased last month compared to January 2011 according to preliminary data1 released today by Canada Mortgage and Housing Corporation (CMHC). There were 77 housing starts recorded in January compared to 247 last year. Single-detached starts increased from 44 to 59 units while multiple starts decreased from 203 to 18 units.

"January numbers were supported by an increase in single-detached starts," said Matthew Gilmore, senior market analyst with CMHC's Atlantic Business Centre. "On the multiples side, apartment starts, which were strong in 2011, reported no new activity last month," added Gilmore. The semi-detached and row segment of the market reported little change in January compared to 2011.

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 NOVA SCOTIA SUMMARY
JAN JAN YEAR-TO-DATE
% Change % Change
2012 2011 2012 2011
ALL URBAN CENTRES WITH POPULATIONS > 50,000
HALIFAX CMA
Single 59 44 34.1% 59 44 34.1%
Multiple 18 203 -91.1% 18 203 -91.1%
TOTAL 77 247 -68.8% 77 247 -68.8%
CAPE BRETON RGM
Single 9 3 ## 9 3 ##
Multiple 2 6 -66.7% 2 6 -66.7%
TOTAL 11 9 22.2% 11 9 22.2%
ALL URBAN CENTRES WITH POPULATION >10,000
ALL CENTRES*
Single 77 73 5.5% 77 73 5.5%
Multiple 22 225 -90.2% 22 225 -90.2%
TOTAL 99 298 -66.8% 99 298 -66.8%
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.

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