July Housing Starts in Halifax

HALIFAX, NOVA SCOTIA--(Marketwire - Aug. 9, 2011) - New residential construction in Halifax was substantially unchanged last month compared to July 2010 according to preliminary data¹ released today by Canada Mortgage and Housing Corporation (CMHC). There were 378 housing starts last month, compared to 381 recorded in July of 2010.

"While residential construction overall saw little change, single-detached starts were off by ten per cent in July compared to last year," said Matthew Gilmore, senior market analyst with CMHC's Atlantic Business Centre. "The decline in singles was more than offset by another strong month of apartment construction in Halifax," Gilmore added.

In urban centres across Canada, total housing starts recorded in July were up three per cent to 16,486 units compared to last year's total of 15,947. Single-detached starts declined 11 per cent to 6,396 units, while multiple starts increased 15 per cent to 10,090 units in 2011. In the Atlantic region, 1,318 new units were started in July 2011 compared to 1,348 units during the same period in 2010.

As Canada's national housing agency, CMHC draws on 65 years of experience to help Canadians access a variety of high 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 informed 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
NOVA SCOTIA SUMMARY
	2011	2010			YEAR-TO -DATE
			% Change				% Change
	JULY	JULY			2011	2010
ALL URBAN CENTRES WITH POPULATIONS > 50,000
HALIFAX CMA
Single	97	108	-10.2	%	485	575	-15.7	%
Multiple	281	273	2.9	%	1,089	923	18.0	%
TOTAL	378	381	-0.8	%	1,574	1,498	5.1	%
CAPE BRETON RGM
Single	16	21	-23.8	%	64	72	-11.1	%
Multiple	18	10	80.0	%	58	50	16.0	%
TOTAL	34	31	9.7	%	122	122	0.0	%
ALL URBAN CENTRES WITH POPULATION >10,000
ALL CENTRES*
Single	150	208	-27.9	%	811	1,030	-21.3	%
Multiple	311	364	-14.6	%	1,297	1,112	16.6	%
TOTAL	461	572	-19.4	%	2,108	2,142	-1.6	%

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 (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.