Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

July 10, 2012 08:15 ET

June Housing Starts in the St. John's Area

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - July 10, 2012) - Housing starts in the St. John's region decreased during the month of June, according to preliminary data1 released today by Canada Mortgage and Housing Corporation (CMHC). June's housing starts totalled 237 units throughout the St. John's area compared to 278 units in June 2011. Year-to-date starts are up 15 per cent to 931 units.

Single-detached and multiple unit construction activity both declined throughout the St. John's area in June. There were 64 multiple units recorded versus 85 a year ago, while single-detached starts decreased ten per cent to 173 units compared to 193 last June. "Despite slower new home construction activity in June, solid economic and demographic fundamentals continue to support the local housing market," said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador.

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 homes 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
NEWFOUNDLAND & LABRADOR SUMMARY
2012 2011 % Change YEAR-TO-DATE % Change
JUN JUN 2012 2011
ALL URBAN CENTRES WITH POPULATIONS > 50,000
ST. JOHN'S CMA
Single 173 193 -10.4% 551 560 -1.6%
Multiple 64 85 -24.7% 380 253 50.2%
TOTAL 237 278 -14.7% 931 813 14.5%
ALL URBAN CENTRES WITH POPULATION >10,000
ALL CENTRES*
Single 197 235 -16.2% 612 651 -6.0%
Multiple 70 103 -32.0% 416 294 41.5%
TOTAL 267 338 -21.0% 1,028 945 8.8%
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 (St. John's CMA, Corner Brook CA, Gander MD, Grand Falls/Windsor CA, and Bay Roberts CA)
## Indicates changes in excess of 100% which are not reported due to volatility resulting from small absolute numbers.

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