Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

January 09, 2009 23:59 ET

Total Housing Starts Virtually Unchanged in Nova Scotia in 2008

HALIFAX, Jan. 9 - Total new residential construction ended the year
2008 virtually unchanged in Nova Scotia's urban centres compared to last year.
According to Canada Mortgage and Housing Corporation's (CMHC) preliminary
data(1) released today for Nova Scotia's urban areas with a population over
10,000, there were 3,327 total housing starts in 2008, compared with 3,320 in
2007. Over the year, single starts were up 21 per cent, but were offset by a
decline in multiple starts of 22 per cent.

In the fourth quarter of 2008, total starts fell 41 per cent from 1,215
to 719. Compared to last year, single starts fell 45 per cent, while multiple
starts fell 28 per cent in the fourth quarter in Nova Scotia's urban centres.

"In Halifax, single starts were up 12 per cent after three quarters,
however, as expected, the fourth quarter saw single starts decline 34 per cent
bringing the annual figures down two per cent compared to last year," said
Matthew Gilmore, Senior Market Analyst with CMHC's Atlantic Business Centre.

Multiple starts trended down throughout the year and finished 2008 down
28.5 per cent in Halifax. "Given high levels of competition for labour and a
less certain economic environment, various apartment style projects were
delayed in 2008," Gilmore said.

In urban centres across Canada in 2008 there were 187,363 total housing
starts, three per cent fewer than the 193,744 starts in 2007. There were
74,433 single-detached housing starts across Canada last year, 18 per cent
less than the 90,854 single starts in 2007. At 112,930 units, multiple housing
starts represented a 10 per cent increase from the 102,890 units started in
2007.

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.



For more information, visit www.cmhc.ca or call 1-800-668-2642

(Ce document existe également en français)

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


-------------------------------------------------------------------------
"PRELIMINARY URBAN MONTHLY HOUSING STARTS
NOVA SCOTIA SUMMARY"
-------------------------------------------------------------------------
2008 2007 YEAR-TO-DATE
------------ % Change ------------ % Change
DEC DEC 2008 2007
-------------------------------------------------------------------------
ALL URBAN CENTRES WITH POPULATIONS GREATER THAN 50,000
-------------------------------------------------------------------------
HALIFAX CMA
Single 65 156 -58.3% 1,180 1,207 -2.2%
Multiple 44 18 144.4% 916 1,282 -28.5%
TOTAL 109 174 -37.4% 2,096 2,489 -15.8%
-------------------------------------------------------------------------
CAPE BRETON RGM
Single 13 24 -45.8% 156 152 2.6%
Multiple 5 6 -16.7% 76 72 5.6%
TOTAL 18 30 -40.0% 232 224 3.6%
-------------------------------------------------------------------------
ALL URBAN CENTRES WITH POPULATION GREATER THAN 10,000
-------------------------------------------------------------------------
ALL CENTRES(X)
Single 121 207 -41.5% 2,088 1,730 20.7%
Multiple 61 30 103.3% 1,239 1,590 -22.1%
TOTAL 182 237 -23.2% 3,327 3,320 0.2%
-------------------------------------------------------------------------
Figures for the most recent month are preliminary and subject to
revisions due to corrections or updates from quarterly enumeration or
sampling results.

(X) 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 CA, East Hants MD CA, Kings Subd.
A SC CA, Lunenburg MD CA, Queens RGM CA, West Hants MD CA, Yarmouth
MD CA).

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



-------------------------------------------------------------------------
"PRELIMINARY URBAN QUARTERLY HOUSING STARTS
NOVA SCOTIA SUMMARY"
-------------------------------------------------------------------------
2008 2007 YEAR-TO-DATE
------------ % Change ------------ % Change
Q4 Q4 2008 2007
-------------------------------------------------------------------------
ALL URBAN CENTRES WITH POPULATIONS GREATER THAN 10,000
-------------------------------------------------------------------------
HALIFAX CMA
Single 250 376 -33.5% 1,180 1,207 -2.2%
Multiple 155 186 -16.7% 916 1,282 -28.5%
TOTAL 405 562 -27.9% 2,096 2,489 -15.8%
-------------------------------------------------------------------------
CAPE BRETON RGM
Single 41 63 -34.9% 156 152 2.6%
Multiple 17 14 21.4% 76 72 5.6%
TOTAL 58 77 -24.7% 232 224 3.6%
-------------------------------------------------------------------------
TRURO CA
Single 48 48 0.0% 164 159 3.1%
Multiple 15 47 -68.1% 54 90 -40.0%
TOTAL 63 95 -33.7% 218 249 -12.4%
-------------------------------------------------------------------------
KENTVILLE CA
Single 22 17 29.4% 74 84 -11.9%
Multiple 22 24 -8.3% 42 105 -60.0%
TOTAL 44 41 7.3% 116 189 -38.6%
-------------------------------------------------------------------------
NEW GLASGOW CA
Single 20 34 -41.2% 92 128 -28.1%
Multiple 4 4 0.0% 39 41 -4.9%
TOTAL 24 38 -36.8% 131 169 -22.5%
-------------------------------------------------------------------------
ALL CENTRES(X)
Single 486 890 -45.4% 2,088 1,730 20.7%
Multiple 233 325 -28.3% 1,239 1,590 -22.1%
TOTAL 719 1,215 -40.8% 3,327 3,320 0.2%
-------------------------------------------------------------------------
Figures for the most recent month are preliminary and subject to
revisions due to corrections or updates from quarterly enumeration or
sampling results.

(X) 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 CA, East Hants MD CA, Kings Subd.
A SC CA, Lunenburg MD CA, Queens RGM CA, West Hants MD CA, Yarmouth
MD CA).

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

Contact Information

  • Matthew Gilmore, Senior Market Analyst, Canada
    Mortgage and Housing Corporation, (902) 426-4686, mgilmore@cmhc-schl.gc.ca