June Housing Starts in Halifax

HALIFAX, NOVA SCOTIA--(Marketwire - July 10, 2012) - New residential construction in Halifax decreased last month compared to June 2011 according to preliminary data¹ released today by Canada Mortgage and Housing Corporation (CMHC). There were 157 housing starts recorded in June compared to 202 last year.

"The decline in total starts in June is attributed to fewer multiple starts breaking ground," said Matthew Gilmore, senior market analyst with CMHC's Atlantic Business Centre. "In the single-detached segment, starts increased for the third consecutive month, climbing to 97 units from 92 last year," added Gilmore.

For the first half of 2012, single-detached starts are up 15.5 per cent compared to last year. Coming off a strong 2011, a total of 452 multiple starts were recorded to the end of June 2012 compared to 808 units for the same period last year.

In urban centres across Canada, total housing starts recorded in June were up 12 per cent to 18,144 units compared to 16,244 a year ago. Single-detached starts decreased five per cent to 6,923 units, while multiple starts increased 25 per cent to 11,221 units in June. In the Atlantic region, 1,121 new units were started compared to 1,055 during June 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
	JUNE	JUNE		% Change		YEAR-TO -DATE			% Change
	2012	2011				2012	2011
ALL URBAN CENTRES WITH POPULATIONS GREATER THAN 50,000
HALIFAX CMA
Single	97	92		5.4	%	448	388		15.5	%
Multiple	60	110		-45.5	%	452	808		-44.1	%
TOTAL	157	202		-22.3	%	900	1,196		-24.7	%
CAPE BRETON RGM
Single	25	17		47.1	%	64	48		33.3	%
Multiple	54	12		##		83	40		# #
TOTAL	79	29		##		147	88		67.0	%
ALL URBAN CENTRES WITH POPULATION GREATER THAN 10,000
ALL CENTRES*
Single	206	171		20.5	%	790	661		19.5	%
Multiple	149	142		4.9	%	617	986		-37.4	%
TOTAL	355	313		13.4	%	1,407	1,647		-14.6	%

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.