November Housing Starts in Halifax

HALIFAX, NOVA SCOTIA--(Marketwire - Dec. 8, 2011) - New residential construction in Halifax decreased last month compared to November 2010 according to preliminary data¹ released today by Canada Mortgage and Housing Corporation (CMHC). There were 126 housing starts last month compared to 171 recorded in November of 2010.

"Despite the overall decline in total housing starts in Halifax last month, single detached construction recorded the largest monthly gain of the year at 18 per cent. While singles showed some strength in November, multiple unit construction was lower. Apartment starts, which have been strong all year, recorded no new activity last month, but remain up 29 per cent for the year," said Matthew Gilmore, senior market analyst with CMHC's Atlantic Business Centre.

In urban centres across Canada, total housing starts recorded in November were down five per cent to 14,701 units compared to 15,540 a year ago. Single-detached starts were virtually unchanged at 5,920 units, while multiple starts decreased eight per cent to 8,781 units in November. In the Atlantic region, 674 new units were started compared to 731 during November 2010.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of 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

	2011	2010		YEAR-TO -DATE
			% Change			% Change
	NOV	NOV		2011	2010
	ALL URBAN CENTRES WITH POPULATIONS > 50,000
HALIFAX CMA
Single	84	71	18.3%	837	949	-11.8%
Multiple	42	100	-58.0%	1,609	1,335	20.5%
TOTAL	126	171	-26.3%	2,446	2,284	7.1%
CAPE BRETON RGM
Single	8	11	-27.3%	109	124	-12.1%
Multiple	13	6	# #	127	79	60.8%
TOTAL	21	17	23.5%	236	203	16.3%
	ALL URBAN CENTRES WITH POPULATION >10,000
ALL CENTRES*
Single	119	160	-25.6%	1,396	1,710	-18.4%
Multiple	78	226	-65.5%	1,922	1,645	16.8%
TOTAL	197	386	-49.0%	3,318	3,355	-1.1%

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.