Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

October 08, 2010 09:34 ET

September Housing Starts in Prince Edward Island

CHARLOTTETOWN, PRINCE EDWARD ISLAND--(Marketwire - Oct. 8, 2010) - Residential construction in urban centres of the province decreased last month compared to September 2009, according to figures released today by Canada Mortgage and Housing Corporation (CMHC). Preliminary data(1) indicate that a total of 38 units were started in September 2010 compared to 75 units for the same period last year.

"For the third month in a row, the number of housing starts in Charlottetown was down, while Summerside experienced an increase," said Ralph Freeze, market analyst with CMHC in Prince Edward Island. "The most significant decline was in multiple unit construction in the capital region. Summerside reported starts for both single and multiple unit construction in September while there were no starts in the same month a year ago. For the first time in 2010, on a year-to-date basis, urban starts are below the pace experienced in 2009," said Freeze.

In urban centres across Canada, total housing starts recorded in September were up nine per cent to 14,401 units compared to last year's total of 13,193. Single-detached starts were down 12 per cent to 5,963 units, while multiple starts were up 31 per cent to 8,438 units this year. In the Atlantic region, 720 new units were started in September 2010 compared to 969 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. 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

  2010 2009   YEAR-TO -DATE  
      % Change     % Change
  SEP SEP   2010 2009  
         ALL URBAN CENTRES WITH POPULATION >10,000
CHARLOTTETOWN CA            
Single 24 25 -4.0% 202 189 6.9%
Multiple 6 50 -88.0% 167 246 -32.1%
TOTAL 30 75 -60.0% 369 435 -15.2%
SUMMERSIDE CA            
Single 2 0 - 22 16 37.5%
Multiple 6 0 - 39 0 -
TOTAL 8 0 - 61 16 ##
ALL CENTRES            
Single 26 25 4.0% 224 205 9.3%
Multiple 12 50 -76.0% 206 246 -16.3%
TOTAL 38 75 -49.3% 430 451 -4.7%

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

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