Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

September 09, 2011 08:17 ET

PEI Housing Starts in August

CHARLOTTETOWN, PRINCE EDWARD ISLAND--(Marketwire - Sept. 9, 2011) - Residential construction in urban centres of the province decreased last month compared to August 2010, according to figures released today by Canada Mortgage and Housing Corporation (CMHC). Preliminary data(1) indicate that a total of 68 units were started in August 2011 compared to 74 units for the same period last year.

"New home construction declined in Charlottetown and recorded an increase in Summerside when compared to August 2010," said Jason Beaton, market analyst with CMHC in Prince Edward Island. In the capital region, both single and multiple starts declined compared to last year. In Summerside, single starts advanced to 10 units from one unit in 2010, while multiple starts decreased from four to two units. "On a year-to-date basis, total starts in the province's urban centres are substantially unchanged from 2010 levels, as the gains in multiple starts have been offset by a comparable decline in single starts," added Beaton.

In urban centres across Canada, total housing starts recorded in August were down three per cent to 14,360 units compared to last year's total of 14,855. Single-detached starts were down nine per cent to 5,946 units, while multiple starts were up one per cent to 8,414 units this year. In the Atlantic region, 755 new units were started in August 2011 compared to 936 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

2011 2010 YEAR-TO -DATE
% Change % Change
AUG AUG 2011 2010
ALL URBAN CENTRES WITH POPULATION >10,000
CHARLOTTETOWN CA
Single 22 31 -29.0% 121 178 -32.0%
Multiple 34 38 -10.5% 168 161 4.3%
TOTAL 56 69 -18.8% 289 339 -14.7%
SUMMERSIDE CA
Single 10 1 ## 27 20 35.0%
Multiple 2 4 -50.0% 70 33 # #
TOTAL 12 5 ## 97 53 83.0%
ALL CENTRES
Single 32 32 0.0% 148 198 -25.3%
Multiple 36 42 -14.3% 238 194 22.7%
TOTAL 68 74 -8.1% 386 392 -1.5%

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

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