Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

May 09, 2011 08:24 ET

PEI Housing Starts in April

CHARLOTTETOWN, PRINCE EDWARD ISLAND--(Marketwire - May 9, 2011) - Residential construction in urban centres of the province increased last month compared to April 2010, according to figures released today by Canada Mortgage and Housing Corporation (CMHC). Preliminary data(1) indicate that a total of 45 units were started in April 2011 compared to 26 units last year.

"Solid gains were recorded in multiple unit construction last month in the Charlottetown area," said Jason Beaton, market analyst with CMHC in Prince Edward Island. There were 31 multiple units started in Charlottetown in April compared to none a year ago. Single starts in Charlottetown declined to 10 units from 22 units in 2010, while Summerside recorded four single-detached starts, matching last year's level. "On a year-to-date basis, urban starts remain well ahead of last year's pace due to strong multiple starts activity in the Charlottetown area," said Beaton.

In urban centres across Canada, total housing starts recorded in April were down 15 per cent to 13,528 units compared to last year's total of 15,897. Single-detached starts were down 27 per cent to 5,382 units, while multiple starts were down four per cent to 8,146 units this year. In the Atlantic region, 551 new units were started in April 2011 compared to 640 units during the same period in 2010.

As Canada's national housing agency, CMHC draws on 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable homes. 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.

(1) Figures for the most recent month are preliminary and subject to revisions due to corrections or updates from quarterly enumeration or sampling results.

For more information, visit www.cmhc.ca or call 1 800 668-2642.

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PRELIMINARY URBAN MONTHLY HOUSING STARTS PRINCE EDWARD ISLAND SUMMARY

20112010YEAR-TO -DATE
% Change% Change
APRAPR20112010
ALL URBAN CENTRES WITH POPULATION >10,000
CHARLOTTETOWN CA
Single1022-54.5%3040-25.0%
Multiple310-594# #
TOTAL412286.4%8944##
SUMMERSIDE CA
Single440.0%770.0%
Multiple00-124# #
TOTAL440.0%191172.7%
ALL CENTRES
Single1426-46.2%3747-21.3%
Multiple310-718# #
TOTAL452673.1%1085596.4%

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

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