Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

February 08, 2012 08:41 ET

January Housing Starts in Prince Edward Island

CHARLOTTETOWN, PRINCE EDWARD ISLAND--(Marketwire - Feb. 8, 2012) - Residential construction in urban centres of the province decreased in January compared to the same month last year, according to figures released today by Canada Mortgage and Housing Corporation (CMHC). Preliminary data1 indicate that a total of 11 units were started in January 2012 compared to 40 during the first month of 2011.

"Charlottetown experienced a decrease in new home construction during the month of January as a result of a lack of multiple starts," said Jason Beaton, market analyst with CMHC in Prince Edward Island. Neither Charlottetown nor Summerside recorded a multiple start in the first month of 2012, compared to 26 and two units, respectively, a year earlier. "Overall, Charlottetown had 10 units started compared to 36 in January of 2011, while Summerside recorded one new unit compared to four last year," added Beaton.

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 PRINCE EDWARD ISLAND SUMMARY

2012 2011 YEAR-TO -DATE
% Change % Change
JAN JAN 2012 2011
ALL URBAN CENTRES WITH POPULATION >10,000
CHARLOTTETOWN CA
Single 10 10 0.0% 10 10 0.0%
Multiple 0 26 # # 0 26 # #
TOTAL 10 36 -72.2% 10 36 -72.2%
SUMMERSIDE CA
Single 1 2 -50.0% 1 2 -50.0%
Multiple 0 2 # # 0 2 # #
TOTAL 1 4 -75.0% 1 4 -75.0%
ALL CENTRES
Single 11 12 -8.3% 11 12 -8.3%
Multiple 0 28 # # 0 28 # #
TOTAL 11 40 -72.5% 11 40 -72.5%

## Indicates changes in excess of 100% which are not reported due to volatility resulting from small absolute numbers.

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