Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

July 09, 2010 09:09 ET

PEI Housing Starts in June

CHARLOTTETOWN, PRINCE EDWARD ISLAND--(Marketwire - July 9, 2010) - Residential construction in urban centres of the province decreased last month compared to June 2009, according to figures released today by Canada Mortgage and Housing Corporation (CMHC). Preliminary data(1) indicate that a total of 94 units were started in June 2010 compared to 103 units last year. 

"The number of housing starts in Charlottetown was down from last June while Summerside experienced an increase," said Ralph Freeze, market analyst with CMHC in Prince Edward Island. "However, single-detached starts were higher in the capital region and multiple unit construction was up in Summerside. On a year-to-date basis, urban starts remain ahead of last year's pace primarily due to the increase in single-detached construction in the Charlottetown market," said Freeze.

In urban centres across Canada, total housing starts recorded in June increased to 15,345 compared to last year's total of 11,686. Single-detached starts increased to 7,834 units from 5,716 units, while multiple unit starts rose to 7,511 units this year from 5,970 units. In the Atlantic region, 1,012 new units were started in June 2010 compared to 904 units during the same period in 2009.

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 — homes that will continue to create vibrant and healthy communities and cities across the country.

  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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