Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

July 09, 2010 09:00 ET

June Housing Starts in New Brunswick

MONCTON, NEW BRUNSWICK--(Marketwire - July 9, 2010) - Residential construction in New Brunswick's urban centres was up in June according to figures released today by Canada Mortgage and Housing Corporation (CMHC). Preliminary data1 indicate that a total of 375 starts were recorded during the month compared to 316 starts for the same period in 2009.

"The year-over-year increase in activity for the month of June was the result of a significant increase in multiple starts in provincial urban centres, most noticeably in Moncton," said Claude Gautreau, CMHC's senior market analyst for New Brunswick. During the month of June, 210 multiple starts were recorded in provincial urban centres compared to 129 units last year. Year-to-date, multiple starts are up seven per cent to 653 units.

Fewer single family homes were started in June with a total of 165 units, down 12 per cent from the 187 units recorded during the same month last year. On a year-to-date basis, single starts are up 18 per cent to 549 units. "At the end of the second quarter, a significant year-to-date increase in total housing starts in Moncton, the province's largest housing market, has bolstered overall starts in New Brunswick's urban centres," continued Gautreau.

In urban centres across Canada, total housing starts recorded in June were up 31 per cent to 15,345 units compared to last year's total of 11,686. Single-detached starts were up 37 per cent, rising to 7,834 units from 5,716 units, while multiple starts were up 26 per cent to 7,511 units this year. In the Atlantic region, 1,012 new units were started in June 2010 compared to 904 units during the same period in 2009.

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.

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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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