Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

October 11, 2011 08:29 ET

PEI Housing Starts in September

CHARLOTTETOWN, PRINCE EDWARD ISLAND--(Marketwire - Oct. 11, 2011) - Residential construction in urban centres of the province increased last month compared to September 2010, according to figures released today by Canada Mortgage and Housing Corporation (CMHC). Preliminary data1 indicate that a total of 94 units were started in September 2011 compared to 38 units for the same period last year.

"The increase in housing starts in September was the result of a surge in apartment starts in the Charlottetown area," said Jason Beaton, market analyst with CMHC in Prince Edward Island. Multiple starts in the capital region increased to 74 units this year from six units in 2010, while single starts declined by eight units to 16 units. Summerside reported four single starts in September compared to two in the same month a year ago. "On a year-to-date basis, urban starts are ahead of the pace experienced in 2011, due entirely to a strong level of multiple units," said Beaton.

In urban centres across Canada, total housing starts recorded in September were up 14 per cent to 16,490 units compared to last year's total of 14,402. Single-detached starts were up five per cent to 6,262 units, while multiple starts were up 21 per cent to 10,228 units this year. In the Atlantic region, 1,094 new units were started in September 2011 compared to 720 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
SEP SEP 2011 2010
ALL URBAN CENTRES WITH POPULATION >10,000
CHARLOTTETOWN CA
Single 16 24 -33.3% 137 202 -32.2%
Multiple 74 6 ## 242 167 44.9%
TOTAL 90 30 ## 379 369 2.7%
SUMMERSIDE CA
Single 4 2 ## 31 22 40.9%
Multiple 0 6 ## 70 39 79.5%
TOTAL 4 8 -50.0% 101 61 65.6%
ALL CENTRES
Single 20 26 -23.1% 168 224 -25.0%
Multiple 74 12 ## 312 206 51.5%
TOTAL 94 38 ## 480 430 11.6%
## Indicates changes in excess of 100% which are not reported due to volatility resulting from small absolute numbers.

PRELIMINARY URBAN QUARTERLY HOUSING STARTS PRINCE EDWARD ISLAND SUMMARY

2011 2010 YEAR-TO -DATE
% Change % Change
Q3 Q3 2011 2010
ALL URBAN CENTRES WITH POPULATION >10,000
CHARLOTTETOWN CA
Single 66 74 -10.8% 137 202 -32.2%
Multiple 131 73 79.5% 242 167 44.9%
TOTAL 197 147 34.0% 379 369 2.7%
SUMMERSIDE CA -
Single 19 6 ## 31 22 40.9%
Multiple 40 14 ## 70 36 94.4%
TOTAL 59 20 ## 101 58 74.1%
ALL CENTRES
Single 85 80 6.3% 168 224 -25.0%
Multiple 171 87 96.6% 312 206 51.5%
TOTAL 256 167 53.3% 480 430 11.6%
## Indicates changes in excess of 100% which are not reported due to volatility resulting from small absolute numbers.

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