Housing starts decline in June



    CHARLOTTETOWN, July 9 /CNW/ - Residential housing starts were down in
urban centres of the province in June, according to figures released today by
Canada Mortgage and Housing Corporation (CMHC). Preliminary data indicate that
a total of 57 starts were recorded in June, down 19 units from the 76 starts
recorded during the same period last year.
    "A decline in both single and multiple starts in provincial urban centres
contributed to the overall decrease in residential activity in June", said
Jason Beaton, Market Analyst with CMHC for Prince Edward Island. Single starts
in Charlottetown retreated to 33 units in June, down from 48 units during the
same month last year. Meanwhile, 24 multiple starts were recorded in the
province in June, down from last year's monthly total of 28 units. "Building
on a positive performance last year, the new home market in Prince Edward
Island has shown modest overall growth in the first six months of 2008, in
spite of weakening economic conditions", continued Beaton.
    In urban centres across Canada, total housing starts in June were down
1 per cent to 18,320 units compared to last year's monthly total of 18,494.
Single-detached starts were down 19 per cent to 7,878 units, while multiple
starts were up 19 per cent in June to 10,442 units compared to 8,752 units
during the same period last year. In the Atlantic region, 1,092 new units were
started in June compared to 1,085 units in June of last year.

    
    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
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
                        2008      2007               YEAR-TO-DATE
                        --------------  % Change    --------------  % Change
                         JUN       JUN              2008      2007
    -------------------------------------------------------------------------
           ALL URBAN CENTRES WITH POPULATION (greater than) 10,000
    -------------------------------------------------------------------------
    CHARLOTTETOWN CA
    Single                27        46    -41.3%     114       111      2.7%
    Multiple              24        22      9.1%      68        62      9.7%
    TOTAL                 51        68    -25.0%     182       173      5.2%
    -------------------------------------------------------------------------
    SUMMERSIDE CA
    Single                 6         2      (XX)      21        11     90.9%
    Multiple               0         6      (XX)       8        17    -52.9%
    TOTAL                  6         8    -25.0%      29        28      3.6%
    -------------------------------------------------------------------------
    ALL CENTRES(*)
    Single                33        48    -31.3%     135       122     10.7%
    Multiple              24        28    -14.3%      76        79     -3.8%
    TOTAL                 57        76    -25.0%     211       201      5.0%
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    (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
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
                        2008      2007               YEAR-TO-DATE
                        --------------  % Change    --------------  % Change
                          Q2        Q2              2008      2007
    -------------------------------------------------------------------------
           ALL URBAN CENTRES WITH POPULATION (greater than) 10,000
    -------------------------------------------------------------------------
    CHARLOTTETOWN CA
    Single                87        105   -17.1%     114      111       2.7%
    Multiple              47        117   -59.8%      68       62       9.7%
    TOTAL                134        222   -39.6%     182      173       5.2%
    -------------------------------------------------------------------------
    SUMMERSIDE CA
    Single                 9          2     (XX)      21       11      90.9%
    Multiple              17          4     (XX)       8       17     -52.9%
    TOTAL                 26          6     (XX)      29       28       3.6%
    -------------------------------------------------------------------------
    ALL CENTRES(*)
    Single                96        117   -17.9%     135      122      10.7%
    Multiple              64        121   -47.1%      76       79      -3.8%
    TOTAL                160        238   -32.8%     211      201       5.0%
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    (XX) Indicates changes in excess of 100% which are not re  ported 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


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