June Housing Starts in PEI

CHARLOTTETOWN, PRINCE EDWARD ISLAND--(Marketwire - July 10, 2012) - Residential construction in urban centres of the province increased last month compared to June 2011, according to figures released today by Canada Mortgage and Housing Corporation (CMHC). Preliminary data¹ indicate that a total of 101 units were started in June 2012 compared to 54 units last year.

"New home construction activity in Charlottetown was higher in June compared to last year," said Jason Beaton, market analyst with CMHC in Prince Edward Island. In the capital region, single starts rose modestly while multiple starts, due to apartment construction, increased significantly compared to June 2011. In Summerside, single starts increased from last year's level, while multiple starts declined from June 2011. "On a year-to-date basis, urban starts remain above last year's pace due to an increased number of both single and multiple starts in the Charlottetown area," said Beaton.

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 units 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.

PRELIMINARY URBAN MONTHLY HOUSING STARTS

PRINCE EDWARD ISLAND SUMMARY

	2012	2011			YEAR-TO-DATE
		% Change					% Change
	JUNE	JUNE			2012	2011
ALL URBAN CENTRES WITH POPULATION >10,000
CHARLOTTETOWN CA
Single	24	20	20.0	%	78	71	9.9	%
Multiple	70	20	# #		141	111	27.0	%
TOTAL	94	40	##		219	182	20.3	%
SUMMERSIDE CA
Single	5	2	# #		12	12	0.0	%
Multiple	2	12	-83.3	%	9	30	-70.0	%
TOTAL	7	14	-50.0	%	21	42	-50.0	%
ALL CENTRES
Single	29	22	31.8	%	90	83	8.4	%
Multiple	72	32	# #		150	141	6.4	%
TOTAL	101	54	87.0	%	240	224	7.1	%

## Indicates changes in excess of 100% which are not reported due to volatility resulting from small absolute numbers.