Housing starts decline in July



    ST. JOHN'S, Aug. 11 /CNW/ - Provincial urban housing starts were down
during the month of July, according to preliminary data(1) released today by
Canada Mortgage and Housing Corporation (CMHC). July's total housing starts
decreased seven per cent, with 221 posted throughout the province compared to
237 a year ago. A total of 202 of the 221 starts were within St. John's metro
versus 185 last July. Year-to-date, there have been 959 new homes started
across the province versus last year's total of 860 homes, an increase of
12 per cent. A total of 830 of these starts occurred within St. John's metro,
for a year-to-date gain of 17 per cent.
    "The demand for new homes has reached an exceptional level within the
local residential construction market, limited only by builder capacity
constraints, due to a very tight labour market for skilled trades," said Chris
Janes, Senior Market Analyst with CMHC in Newfoundland and Labrador. The
St. John's area housing market has been fundamentally strong this year thanks
to favourable economic and demographic factors. "A bustling local economy,
positive net-migration to the area and stable consumer confidence have been
the key factors to date," added Janes.
    For Canada's urban centres, total housing starts totaled 14,444 in July
compared to 17,367 during July of 2007. Single-detached starts decreased
26 per cent to 6,911, while multiple starts of 7,533 represent a six per cent
decrease from a year ago. Throughout Atlantic Canada, there were 1,000 urban
housing starts versus 956 the previous July.

    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.)


    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
                   PRELIMINARY URBAN MONTHLY HOUSING STARTS
                       NEWFOUNDLAND & LABRADOR SUMMARY
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
                             2008    2007             YEAR-TO-DATE
                            -------------- % Change  -------------- % Change
                              JUL     JUL             2008    2007
    -------------------------------------------------------------------------
           ALL URBAN CENTRES WITH POPULATIONS (greater than) 50,000
    -------------------------------------------------------------------------
    ST. JOHN'S CMA
    Single                    175     162       8.0%   684     559      22.4%
    Multiple                   27      23      17.4%   146     149      -2.0%
    TOTAL                     202     185       9.2%   830     708      17.2%
    -------------------------------------------------------------------------
           ALL URBAN CENTRES WITH POPULATION (greater than) 10,000
    -------------------------------------------------------------------------
    ALL CENTRES(*)
    Single                    193     210      -8.1%   778     688      13.1%
    Multiple                   28      27       3.7%   181     172       5.2%
    TOTAL                     221     237      -6.8%   959     860      11.5%
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    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
         (St. John's CMA, Corner Brook CA, Gander CA, Grand Falls/Windsor CA,
         Bay Roberts CA and Labrador City CA)

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




For further information:

For further information: Chris Janes, Senior Market Analyst -
Newfoundland & Labrador, Canada Mortgage and Housing Corporation, (709)
772-2403


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