Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

February 08, 2011 08:15 ET

PEI Housing Starts in January

CHARLOTTETOWN, PRINCE EDWARD ISLAND--(Marketwire - Feb. 8, 2011) - Residential construction in urban centres of the province increased in January compared to the same month last year, according to figures released today by Canada Mortgage and Housing Corporation (CMHC). Preliminary data(1) indicate that a total of 40 units were started in January 2011 compared to 21 during the first month of 2010.

"Charlottetown experienced an increase in new home construction during the month of January as a result of higher multiple starts," said Jason Beaton, market analyst with CMHC in Prince Edward Island. " Multiple starts in Charlottetown rose to 26 units from two units a year earlier, while in Summerside multiple starts declined to two units from four units in 2010," added Beaton. Overall, Charlottetown had 36 units started compared to 16 in January of 2010, while Summerside recorded four new units compared to five units last year.

In urban centres across Canada, total housing starts recorded in January were down six per cent to 9,773 units compared to last year's total of 10,438. Single-detached starts were down 28 per cent to 3,463 units, while multiple starts were up 13 per cent to 6,310 units this year. In the Atlantic region, 480 new units were started in January 2011 compared to 441 units during the same period in 2010.

As Canada's national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of 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 vital 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
  JAN JAN   2011 2010  
        ALL URBAN CENTRES WITH POPULATION >10,000
CHARLOTTETOWN CA            
Single 10 14 -28.6% 10 14 -28.6%
Multiple 26 2 ## 26 2 ##
TOTAL 36 16 ## 36 16 ##
SUMMERSIDE CA            
Single 2 1 ## 2 1 ##
Multiple 2 4 -50.0% 2 4 -50.0%
TOTAL 4 5 -20.0% 4 5 -20.0%
ALL CENTRES            
Single 12 15 -20.0% 12 15 -20.0%
Multiple 28 6 ## 28 6 # #
TOTAL 40 21 90.5% 40 21 90.5%

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

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