Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

November 08, 2011 08:26 ET

October Housing Starts in Halifax

HALIFAX, NOVA SCOTIA--(Marketwire - Nov. 8, 2011) - New residential construction in Halifax decreased last month compared to October 2010 according to preliminary data(1) released today by Canada Mortgage and Housing Corporation (CMHC). There were 128 housing starts last month compared to 290 recorded in October of 2010.

"Both single and multiple housing starts fell lastmonth compared to October 2010," said Matthew Gilmore, senior market analyst with CMHC's Atlantic Business Centre. "Single starts have been relatively weak all year and October was no exception as demand continued to be impacted by slow economic and employment growth," said Gilmore. "While there were only seven new apartment startsastl month, this segment of the market has seen significant growth throughout the year, up 36 per cent on a year-to- date basis to the end of October," added Gilmore.

In urban centres across Canada, total housing starts recorded in October were up 21 per cent to 16,388 units compared to last year's total of 13,548. Single-detached starts decreased four per cent to 5,472 units, while multiple starts increased 40 per cent to 10,916 units in 2011. In the Atlantic region, 638 new units were started in October 2011 compared to 956 units during the same period in 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 http://www.cmhc.ca/housingmarketinformation.

(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
OCT OCT 2011 2010
ALL URBAN CENTRES WITH POPULATIONS > 50,000
HALIFAX CMA
Single 83 86 -3.5% 753 878 -14.2%
Multiple 45 204 -77.9% 1,567 1,235 26.9%
TOTAL 128 290 -55.9% 2,320 2,113 9.8%
CAPE BRETON RGM
Single 16 14 14.3% 101 113 -10.6%
Multiple 30 9 # # 114 73 56.2%
TOTAL 46 23 ## 215 186 15.6%
ALL URBAN CENTRES WITH POPULATION >10,000
ALL CENTRES*
Single 119 160 -25.6% 1,287 1,573 -18.2%
Multiple 78 226 -65.5% 1,865 1,526 22.2%
TOTAL 197 386 -49.0% 3,152 3,099 1.7%

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.

Contact Information

  • Matthew Gilmore
    Senior Market Analyst
    CMHC Market Analysis Centre
    (902) 426-4686
    mgilmore@cmhc.ca