Housing Starts Decline in December



    CHARLOTTETOWN, Jan. 9 /CNW/ - Residential construction in urban centres
of the province decreased in December, according to figures released today by
Canada Mortgage and Housing Corporation (CMHC). Preliminary data indicates
that a total of 24 starts were reported in December compared to 30 starts for
the same period last year.
    "The decrease in residential activity in December was the result of a
drop in both single and multiple starts", said Jason Beaton, Market Analyst
with CMHC in Prince Edward Island. Multiple starts in Summerside reached
6 units, down from 9 units a year ago, while in Charlottetown there were no
multiple starts compared to 2 units during the same period last year. Single
starts in the Charlottetown area were unchanged at 17 units in December 2007.
On a yearly basis, total urban starts in PEI reached 484 units in 2007, a
7.5 per cent decrease when compared to 2006. This decline came as a result of
decreased starts in Charlottetown as residential starts in the Summerside area
exceeded last year's total. "Although new housing starts did not exceed the
2006 level of 523 units, the pace of construction was still strong in
historical terms", continued Beaton.
    In urban centres across Canada, 11,176 total housing starts were recorded
in December, a 20 per cent decline from the 14,019 starts in December 2006.
Single-detached starts decreased 4 per cent to 6,098 units, while multiple
unit starts were down 34 per cent: from 7,650 last year to 5,078 units this
year. In the Atlantic region, 233 new units were started in December 2007
compared to 201 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.


    -------------------------------------------------------------------------
                   PRELIMINARY URBAN MONTHLY HOUSING STARTS
                         PRINCE EDWARD ISLAND SUMMARY
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
                      2007      2006                  YEAR-TO-DATE
                      --------------  % Change      --------------  % Change
                       DEC       DEC                2007      2006
    -------------------------------------------------------------------------
           ALL URBAN CENTRES WITH POPULATION (greater than)10,000
    -------------------------------------------------------------------------
    CHARLOTTETOWN CA
    Single              17        17       0.0%      295       276       6.9%
    Multiple             0         2       (xx)       99       191     -48.2%
    TOTAL               17        19     -10.5%      394       467     -15.6%
    -------------------------------------------------------------------------
    SUMMERSIDE CA
    Single               1         2     -50.0%       38        33      15.2%
    Multiple             6         9     -33.3%       52        23       (xx)
    TOTAL                7        11     -36.4%       90        56      60.7%
    -------------------------------------------------------------------------
    ALL CENTRES(*)
    Single              18        19      -5.3%      333       309       7.8%
    Multiple             6        11     -45.5%      151       214     -29.4%
    TOTAL               24        30     -20.0%      484       523      -7.5%
    -------------------------------------------------------------------------
    (xx) Indicates changes in excess of 100% which are not reported due to
         volatility resulting from small absolute numbers.


    -------------------------------------------------------------------------
                 PRELIMINARY URBAN QUARTERLY HOUSING STARTS
                         PRINCE EDWARD ISLAND SUMMARY
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
                      2007      2006                  YEAR-TO-DATE
                      --------------  % Change      --------------  % Change
                        Q4        Q4                2007      2006
    -------------------------------------------------------------------------
           ALL URBAN CENTRES WITH POPULATION (greater than)10,000
    -------------------------------------------------------------------------
    CHARLOTTETOWN CA
    Single              82        67      22.4%      295       276       6.9%
    Multiple            19        12      58.3%       99       191     -48.2%
    TOTAL              101        79      27.8%      394       467     -15.6%
    -------------------------------------------------------------------------
    SUMMERSIDE CA
    Single              15        10      50.0%       38        33      15.2%
    Multiple            29        11       (xx)       52        23       (xx)
    TOTAL               44        21       (xx)       90        56      60.7%
    -------------------------------------------------------------------------
    ALL CENTRES(*)
    Single              97        77      26.0%      333       309       7.8%
    Multiple            48        23       (xx)      151       214     -29.4%
    TOTAL              145       100      45.0%      484       523      -7.5%
    -------------------------------------------------------------------------
    (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: Jason Beaton, Market Analyst - Prince Edward
Island, Canada Mortgage and Housing Corporation, (506) 851-6047; For more
information, visit www.cmhc.ca or call 1 800 668-2642.


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