PEI Housing Starts in June

CHARLOTTETOWN, PRINCE EDWARD ISLAND--(Marketwire - July 11, 2011) - Residential construction in urban centres of the province decreased last month compared to June 2010, according to figures released today by Canada Mortgage and Housing Corporation (CMHC). Preliminary data⁽¹⁾ indicate that a total of 54 units were started in June 2011 compared to 94 units last year.

"New home construction activity in both Charlottetown and Summerside was lower in June compared to last year," said Jason Beaton, market analyst with CMHC in Prince Edward Island. In the capital region, single starts declined while multiple starts remained unchanged compared to June 2010. In Summerside, both single and multiple starts fell below the level recorded in the month of June last year. "On a year-to-date basis, urban starts remain below last year's pace due to fewer single-detached starts in both the Charlottetown and Summerside markets," said Beaton.

In urban centres across Canada, total housing starts recorded in June were up four per cent to 15,982 units compared to last year's total of 15,346. Single-detached starts were down seven per cent to 7,287 units, while multiple starts were up 16 per cent to 8,695 units this year. In the Atlantic region, 1,051 new units were started in June 2011 compared to 1,012 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
	JUNE	JUNE		2011	2010
	ALL URBAN CENTRES WITH POPULATION >10,000
CHARLOTTETOWN CA
Single	20	51	-60.8%	71	128	-44.5%
Multiple	20	20	0.0%	111	94	18.1%
TOTAL	40	71	-43.7%	182	222	-18.0%
SUMMERSIDE CA
Single	2	4	-50.0%	12	16	-25.0%
Multiple	12	19	-36.8%	30	25	20.0%
TOTAL	14	23	-39.1%	42	41	2.4%
ALL CENTRES
Single	22	55	-60.0%	83	144	-42.4%
Multiple	32	39	-17.9%	141	119	18.5%
TOTAL	54	94	-42.6%	224	263	-14.8%

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