Growth in Urban Housing Starts Continues in October



    ST. JOHN'S, Nov. 8 /CNW/ - Growth in urban housing starts continued in
October, according to preliminary data(1) released today by Canada Mortgage
and Housing Corporation (CMHC). October's total housing starts soared
27 per cent, with 151 posted across provincial urban centres versus 119 a year
ago. Of the 151 starts, 127 occurred within the St. John's metro area compared
to 99 last October, an increase of 28 per cent. To date, urban housing starts
total 1,442, up 16 per cent over the first ten months of 2006.
    "October's total housing starts marks the fifth month in a row where
growth in residential construction was recorded over last year," said Chris
Janes, Senior Market Analyst with CMHC in Newfoundland and Labrador. "Solid
economic and demographic fundamentals, paired with a high level of consumer
confidence, are driving the demand for new homes across the province," added
Janes.
    For Canada's urban centres, total housing starts fell nine per cent to
16,057 in October over October of 2006. Single-detached starts shed ten per
cent to 7,370, while multiple starts of 8,687 represent a seven per cent
decline compared to last year. Throughout Atlantic Canada, there were
757 urban housing starts, a notable 25 per cent gain over October of last
year.
    Canada Mortgage and Housing Corporation conducts a monthly survey of
housing construction in urban centres of Canada with a population of 50,000
and over.

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

    (Ce document existe également en français.)

    Canada Mortgage and Housing Corporation (CMHC) has been Canada's national
housing agency for more than 60 years. CMHC is committed to helping Canadians
access a wide choice of quality, affordable homes, while making vibrant,
healthy communities and cities a reality across the country.

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

    -------------------------------------------------------------------------
                   PRELIMINARY URBAN MONTHLY HOUSING STARTS
                       NEWFOUNDLAND & LABRADOR SUMMARY
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
                          2007    2006               YEAR-TO-DATE
                          ------------   % Change    ------------   % Change
                           OCT     OCT               2007    2006
    -------------------------------------------------------------------------
           ALL URBAN CENTRES WITH POPULATIONS (greater than) 50,000
    -------------------------------------------------------------------------
    ST. JOHN'S CMA
    Single                 109      81       34.6%    923     820       12.6%
    Multiple                18      18        0.0%    250     239        4.6%
    TOTAL                  127      99       28.3%  1,173   1,059       10.8%
    -------------------------------------------------------------------------
            ALL URBAN CENTRES WITH POPULATION (greater than)10,000
    -------------------------------------------------------------------------
    ALL CENTRES(*)
    Single                 122      98       24.5%  1,140     972       17.3%
    Multiple                29      21       38.1%    302     268       12.7%
    TOTAL                  151     119       26.9%  1,442   1,240       16.3%
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    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 (St.
    John's CMA, Corner Brook CA, Gander CA, Grand Falls/Windsor CA, Bay
    Roberts CA and Labrador City CA)

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




For further information:

For further information: Chris Janes, Senior Market Analyst - NL, (709)
772-2403, cjanes@cmhc.ca


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