Housing Starts Begin Year in Positive Territory



    ST. JOHN'S, Feb. 8 /CNW/ - Urban housing starts began the year in
positive territory, according to preliminary data(1) released today by Canada
Mortgage and Housing Corporation (CMHC). January's total housing starts
increased nine per cent, with 71 posted across provincial urban centres
compared to 65 a year ago. Of the 71 starts, 66 were within the St. John's
region versus 63 last January, an increase of five per cent.
    "As expected, the positive momentum in urban housing starts from the
fourth quarter of 2007 carried over into the first month of this year," said
Chris Janes, Senior Market Analyst with CMHC in Newfoundland and Labrador.
"With the underlying strength in the local economy, improving in-migration and
high consumer confidence, the first quarter of 2008 should provide a solid
start to the year for residential construction," added Janes.
    For Canada's urban centres, total housing starts pulled back 11 per cent
to 12,023 in January over January of 2007. Single-detached starts fell
16 per cent to 4,402, while multiple starts of 7,621 represent a nine per cent
decline compared to last year. Throughout Atlantic Canada, there were
361 urban housing starts, a notable 28 per cent retreat over the previous
January.

    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.)


    -------------------------------------------------------------------------
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                   PRELIMINARY URBAN MONTHLY HOUSING STARTS
                       NEWFOUNDLAND & LABRADOR SUMMARY
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
                      2008      2007                  YEAR-TO-DATE
                      --------------  % Change      --------------  % Change
                       JAN       JAN                2008      2007
    -------------------------------------------------------------------------
           ALL URBAN CENTRES WITH POPULATIONS (greater than) 50,000
    -------------------------------------------------------------------------
    ST. JOHN'S CMA
    Single              52        47      10.6%       52        47      10.6%
    Multiple            14        16     -12.5%       14        16     -12.5%
    TOTAL               66        63       4.8%       66        63       4.8%
    -------------------------------------------------------------------------
           ALL URBAN CENTRES WITH POPULATION (greater than)10,000
    -------------------------------------------------------------------------
    ALL CENTRES(*)
    Single              57        49      16.3%       57        49      16.3%
    Multiple            14        16     -12.5%       14        16     -12.5%
    TOTAL               71        65       9.2%       71        65       9.2%
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    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.

    ## 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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