September Housing Starts in Halifax

HALIFAX, NOVA SCOTIA--(Marketwire - Oct. 11, 2011) - New residential construction in Halifax increased last month compared to September 2010 according to preliminary data¹ released today by Canada Mortgage and Housing Corporation (CMHC). There were 289 housing starts last month compared to 191 recorded in September of 2010.

"Apartment construction continued to be the main source of growth in the Halifax housing market last month," said Matthew Gilmore, senior market analyst with CMHC's Atlantic Business Centre. "This segment of the market is now up just over 50 per cent compared to last year," added Gilmore. "Single-detached starts were unchanged compared to September 2010 at 105 units but continue to see reduced demand due to slow economic and employment growth," Gilmore said.

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 increased five per cent to 6,262 units, while multiple starts increased 21 per cent to 10,228 units in 2011. 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
NOVA SCOTIA SUMMARY
	2011	2010		YEAR-TO -DATE
			% Change			% Change
	SEPT	SEPT		2011	2010
ALL URBAN CENTRES WITH POPULATIONS > 50,000
HALIFAX CMA
Single	105	105	0.0%	670	792	-15.4%
Multiple	184	86	##	1,425	1,031	38.2%
TOTAL	289	191	51.3%	2,095	1,823	14.9%
CAPE BRETON RGM
Single	11	15	-26.7%	85	99	-14.1%
Multiple	15	6	##	84	64	31.3%
TOTAL	26	21	23.8%	169	163	3.7%
ALL URBAN CENTRES WITH POPULATION >10,000
ALL CENTRES*
Single	184	190	-3.2%	1,168	1,413	-17.3%
Multiple	215	142	51.4%	1,690	1,300	30.0%
TOTAL	399	332	20.2%	2,858	2,713	5.3%

Figures for the most recent month are preliminary and subject to revisions due to corrections or updates from quarterly enumeration or sampling results.

* Includes all centres with a total population of more than 10,000 (Halifax CMA, Cape Breton RGM, Truro CA, Kentville CA and New Glasgow CA, Chester MD, East Hants MD, Kings Subd. A SCM, Lunenburg MD, Queens RGM, West Hants MD, Yarmouth MD).

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