Housing Starts Decline in February



    MONCTON, NB, March 8 /CNW/ - Total housing starts in New Brunswick's
urban centers for the month of February trailed last year's level. According
to Canada Mortgage and Housing Corporation's preliminary data(1), residential
construction totaled 42 starts compared to 61 units during the same period
last year.
    "On the heels of reduced construction activity to start off the year in
January, residential starts in February once again fell below last year's
level", said Claude Gautreau, CMHC's Senior Market Analyst for New Brunswick.
In the province's urban centers, 8 multiple starts were recorded in 2007, down
from last year's total of 12 units. Multiple starts declined in both Saint
John and Moncton, with no multiple starts recorded in Fredericton during the
month of February.
    Single starts mirrored the trend in multiples with a similar decline in
February. In the province's urban areas, there were 34 single starts in 2007
compared to 49 last year. Singles starts were unchanged in Moncton with 8
units while Fredericton and Saint John posted decreases of 10 and 6 units,
respectively. "After the first two months of 2007, both single and multiple
starts were down, contributing to the overall decline in residential housing
starts compared to last year", continued Gautreau.
    In urban centers across Canada, total housing starts in February
decreased by 24 per cent, down to 9,436 from last year's total of 12,450.
Single-detached starts declined to 4,389 units compared to 5,956 in 2006,
while multiple unit starts declined 22 per cent from 6,494 last year to 5,047
units this year. In the Atlantic region, 278 new units were started in
February 2007 compared to 299 units during the same period in 2006.

    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.

    
    (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
                         FEB     FEB                 2007    2006
    -------------------------------------------------------------------------
           ALL URBAN CENTRES WITH POPULATIONS (greater than) 50,000
    -------------------------------------------------------------------------
    SAINT JOHN CMA
    Single                11      17      -35.3%       22      31      -29.0%
    Multiple               2       4      -50.0%       20       8         XX
    TOTAL                 13      21      -38.1%       42      39        7.7%
    -------------------------------------------------------------------------
    MONCTON CA
    Single                 8       8        0.0%       32      43      -25.6%
    Multiple               6       0          -        60      59        1.7%
    TOTAL                 14       8       75.0%       92     102       -9.8%
    -------------------------------------------------------------------------
    FREDERICTON CA
    Single                 6      16      -62.5%       26      30      -13.3%
    Multiple               0       8         XX         2      30      -93.3%
    TOTAL                  6      24      -75.0%       28      60      -53.3%
    -------------------------------------------------------------------------
                 ALL URBAN CENTRES WITH POPULATION (greater than)10,000(*)
    -------------------------------------------------------------------------
    ALL CENTRES
    Single                34      49      -30.6%       97     120      -19.2%
    Multiple               8      12      -33.3%       82      97      -15.5%
    TOTAL                 42      61      -31.1%      179     217      -17.5%
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    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, Canada Mortgage and Housing Corporation, (506) 851-2742


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