Housing Decline in November



    MONCTON, NB, Dec. 10 /CNW/ - Total housing starts in New Brunswick's
urban centres for the month of November trailed last year's level. According
to Canada Mortgage and Housing Corporation's preliminary data(1),
231 residential starts were recorded in November, down slightly from the
244 units recorded during the same month in 2006.
    "Although single starts remained strong, fewer multiples in November led
to the overall decline for the month", said Claude Gautreau, CMHC's Senior
Market Analyst for New Brunswick. In the province's urban centres, 136 single
starts were recorded in November, up 9 units from last year's total of
127 units. Among New Brunswick's large urban centres, single starts were ahead
of last year in both Saint John and Fredericton, while remaining unchanged in
Moncton.
    There was a decline in multiple starts in the province's urban areas
during the month of November, with 95 units compared to 117 last year.
Year-to-date, multiple starts trailed last year's total at the end of November
with 1,213 units compared to 1,300 last year. "The year-to-date decline in
multiple starts has continued to be offset by strong single starts, leading to
an overall year-to-date increase in total starts", continued Gautreau.
    In urban centres across Canada, total housing starts in November trailed
last year's total by 5 per cent, down to 17,077 from last year's total of
17,998. Single-detached starts rose to 8,065 units compared to 7,486 in 2006,
while multiple unit starts declined 14 per cent from 10,512 units last year to
9,012 units this year. In the Atlantic region, 738 starts were recorded in
November 2007 compared to 819 units during the same period in 2006.

    
    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.

    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
                  "PRELIMINARY URBAN MONTHLY HOUSING STARTS
                           NEW BRUNSWICK SUMMARY"
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
                          2007   2006               YEAR-TO-DATE
                          -----------   % Change    ------------    % Change
                           NOV    NOV                2007 2006
    -------------------------------------------------------------------------
           ALL URBAN CENTRES WITH POPULATIONS (greater than) 50,000
    -------------------------------------------------------------------------
    SAINT JOHN CMA
    Single                  40     33       21.2%     374     337       11.0%
    Multiple                10      5        (xx)     263     180       46.1%
    TOTAL                   50     38       31.6%     637     517       23.2%
    -------------------------------------------------------------------------
    MONCTON CA
    Single                  57     57        0.0%     609     552       10.3%
    Multiple                67     57       17.5%     712     775       -8.1%
    TOTAL                  124    114        8.8%   1,321   1,327       -0.5%
    -------------------------------------------------------------------------
    FREDERICTON CA
    Single                  32     27       18.5%     391     368        6.3%
    Multiple                18     52      -65.4%     188     288      -34.7%
    TOTAL                   50     79      -36.7%     579     656      -11.7%
    -------------------------------------------------------------------------
                 ALL URBAN CENTRES WITH POPULATION (greater than)10,000(*)
    -------------------------------------------------------------------------
    ALL CENTRES
    Single                 136    127        7.1%   1,530   1,371       11.6%
    Multiple                95    117      -18.8%   1,213   1,300       -6.7%
    TOTAL                  231    244       -5.3%   2,743   2,671        2.7%
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

    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
         (Saint John CMA, Moncton CA, Fredericton CA, Bathurst CA,
         Campbellton CA, Edmundston CA, and Miramichi City).

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




For further information:

For further information: Claude Gautreau, Senior market analyst - New
Brunswick, (506) 851-2742


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