Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

April 11, 2012 08:15 ET

March Housing Starts in PEI

CHARLOTTETOWN, PRINCE EDWARD ISLAND--(Marketwire - April 11, 2012) - Residential construction in urban centres of the province decreased last month compared to March 2011, according to figures released today by Canada Mortgage and Housing Corporation (CMHC). Preliminary data1 indicate that a total of five units were started in March 2012, compared to 13 units during the same period last year.

"The decline compared to last year was the result of fewer multiple starts in both the Charlottetown and Summerside areas," said Jason Beaton, market analyst with CMHC in Prince Edward Island. Single-detached starts in Charlottetown recorded three units in March 2012, compared to five units last year. In Summerside, there were two single starts in March 2012, compared to no starts last year, while no multiple starts were recorded this year in contrast to eight in 2011. "On a year-to-date basis, urban starts remain behind last year's pace due to a reduction in multiple unit construction," said Beaton.

In urban centres across Canada, total housing starts recorded in March were up 18 per cent to 13,761 units compared to 11,655 a year ago. Single-detached starts increased 11 per cent to 4,030 units, while multiple starts increased 21 per cent to 9,731 units in March. In the Atlantic region, 333 new units were started compared to 271 during March 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
PRINCE EDWARD ISLAND SUMMARY
2012 2011 % Change YEAR-TO-DATE % Change
MAR MAR 2012 2011
ALL URBAN CENTRES WITH POPULATION >10,000
CHARLOTTETOWN CA
Single 3 5 -40.0% 20 20 0.0%
Multiple 0 0 - 0 28 ##
TOTAL 3 5 -40.0% 20 48 -58.3%
SUMMERSIDE CA
Single 2 0 - 4 3 33.3%
Multiple 0 8 ## 0 12 ##
TOTAL 2 8 -75.0% 4 15 -73.3%
ALL CENTRES
Single 5 5 0.0% 24 23 4.3%
Multiple 0 8 ## 0 40 ##
TOTAL 5 13 -61.5% 24 63 -61.9%
Figures for the most recent month are preliminary and subject to revisions due to corrections or updates from quarterly enumeration or sampling result.
## Indicates changes in excess of 100% which are not reported due to volatility resulting from small absolute numbers.
PRELIMINARY URBAN QUARTERLY HOUSING STARTS
PRINCE EDWARD ISLAND SUMMARY
2012 2011 % Change YEAR-TO-DATE % Change
Q1 Q1 2012 2011
ALL URBAN CENTRES WITH POPULATION >10,000
CHARLOTTETOWN CA
Single 20 20 0.0% 20 20 0.0%
Multiple 0 28 ## 0 28 ##
TOTAL 20 48 -58.3% 20 48 -58.3%
SUMMERSIDE CA
Single 4 3 33.3% 4 3 33.3%
Multiple 0 12 ## 0 12 ##
TOTAL 4 15 -73.3% 4 15 -73.3%
ALL CENTRES
Single 24 23 4.3% 24 23 4.3%
Multiple 0 40 ## 0 40 ##
TOTAL 24 63 -61.9% 24 63 -61.9%
## Indicates changes in excess of 100% which are not reported due to volatility resulting from small absolute numbers.
Data for 2009 on 2001 Census Definitions.
Data for 2011 on 2009 Preliminary Census Definitions.

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