Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

July 09, 2010 08:57 ET

June Housing Starts in Halifax

HALIFAX, NOVA SCOTIA--(Marketwire - July 9, 2010) - New residential construction in Halifax declined last month compared to June 2009. According to Canada Mortgage and Housing Corporation's (CMHC's) preliminary data(1) released today for Halifax, there were 125 housing starts last month, compared to 135 starts recorded in June 2009.

"Total starts in June declined for the first time this year," said Matthew Gilmore, senior market analyst with CMHC's Atlantic Business Centre. Single starts declined from 111 to 91 units while multiple starts increased from 24 to 34 units last month. "Despite the decline in starts last month, both year-to-date singles and multiples remain significantly higher than last year," added Gilmore.

In urban centres across Canada in June there were 15,345 total housing starts, 31 per cent more than the 11,686 starts recorded in June of 2009. There were 7,834 single-detached starts last month, an increase of 37 per cent compared to June of 2009. Multi-residential starts were up 26 per cent to 7,511 in June of 2010. In Atlantic Canada, there were 1,012 housing starts posted compared to 904 in June of last year, an increase of 12 per cent.

As Canada's national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of 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 vital decisions.

For more information, visit www.cmhc.ca or call 1 800 668-2642.

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A table is available at the following address: http://media3.marketwire.com/docs/nova_scotia_eng0709.pdf

(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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