July Housing Starts in Halifax

HALIFAX, NOVA SCOTIA--(Marketwire - Aug. 9, 2012) - New residential construction in Halifax decreased last month compared to July 2011, according to preliminary data¹ released today by Canada Mortgage and Housing Corporation (CMHC). There were 150 housing starts recorded in July compared to 378 last year.

"New home construction activity in Halifax was supported by an increase in single-detached starts last month," said Tim Andrews, market analyst with CMHC's Atlantic Business Centre. "Singles starts increased for the fourth consecutive month, climbing ten per cent in July to 107 units," added Andrews. "Multiple starts at 43 units, were substantially lower in July 2012 compared to the 281 units recorded a year ago."

In urban centres across Canada, total housing starts recorded in July were down two per cent to 16,876 units compared to 17,230 a year ago. Single-detached starts decreased eight per cent to 6,315 units, while multiple starts increased two per cent to 10,561 units in July. In the Atlantic region, 890 new units were started compared to 1,409 during July 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
	JULY	JULY			YEAR-TO-DATE
			% Change				% Change
	2012	2011			2012	2011
ALL URBAN CENTRES WITH POPULATIONS > 50,000
HALIFAX CMA
Single	107	97	10.3	%	555	485	14.4	%
Multiple	43	281	-84.7	%	495	1,089	-54.5	%
TOTAL	150	378	-60.3	%	1,050	1,574	-33.3	%
CAPE BRETON RGM
Single	25	16	56.3	%	89	64	39.1	%
Multiple	16	18	-11.1	%	99	58	70.7	%
TOTAL	41	34	20.6	%	188	122	54.1	%
ALL URBAN CENTRES WITH POPULATION >10,000
ALL CENTRES*
Single	160	188	-14.9	%	950	849	11.9	%
Multiple	66	316	-79.1	%	683	1,302	-47.5	%
TOTAL	226	504	-55.2	%	1,633	2,151	-24.1	%
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.