Housing Starts Increased in December



    CHARLOTTETOWN, Jan. 9 /CNW/ - Residential construction in urban centres
of the province increased in December, according to figures released today by
Canada Mortgage and Housing Corporation (CMHC). Preliminary data(1) indicates
that a total of 43 starts were reported in December compared to 24 starts for
the same period last year.
    "The increase in residential starts in December was the result of more
activity in the Charlottetown area", said Jason Beaton, Market Analyst with
CMHC in Prince Edward Island. Multiple starts in Charlottetown reached 16
units, from no units a year ago, while in Summerside multiple starts moderated
to 4 units from 6 units during the same period last year. Single starts in the
Charlottetown area ascended to 22 units in December 2008 from 17 units in
2007. On a yearly basis, total urban starts in PEI reached 495 units in 2008,
a 2.3 per cent increase when compared to 2008. This increase came as a result
of additional multiple starts in the Charlottetown area. "New urban housing
starts exceeded the 2007 level of 484 units, and finished 2008 above the 10
year average", continued Beaton.
    In urban centres across Canada, 10,487 total housing starts were recorded
in December resulting in a 6 per cent decline from the 11,157 starts in
December 2007. Single-detached starts decreased 29 per cent to 4,335 units,
while multiple unit starts were up 22 per cent: from 5,061 last year to 6,152
units this year. In the Atlantic region, 574 new units were started in
December 2008 compared to 651 units during the same period in 2007.

    
    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
                      DEC       DEC                2008      2007
    -------------------------------------------------------------------------
           ALL URBAN CENTRES WITH POPULATION greater than 10,000
    -------------------------------------------------------------------------
    CHARLOTTETOWN CA
    Single             22        17      29.4%      280       295      -5.1%
    Multiple           16         0         -       146        99      47.5%
    TOTAL              38        17       (XX)      426       394       8.1%
    -------------------------------------------------------------------------
    SUMMERSIDE CA
    Single              1         1       0.0%       41        38       7.9%
    Multiple            4         6     -33.3%       28        52     -46.2%
    TOTAL               5         7     -28.6%       69        90     -23.3%
    -------------------------------------------------------------------------
    ALL CENTRES
    Single             23        18      27.8%      321       333      -3.6%
    Multiple           20         6       (XX)      174       151      15.2%
    TOTAL              43        24      79.2%      495       484       2.3%
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    (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
                       Q4        Q4                2008      2007
    -------------------------------------------------------------------------
            ALL URBAN CENTRES WITH POPULATION greater than 10,000
    -------------------------------------------------------------------------
    CHARLOTTETOWN CA
    Single             69        82     -15.9%      280       295      -5.1%
    Multiple           64        19       (XX)      146        99      47.5%
    TOTAL             133       101      31.7%      426       394       8.1%
    -------------------------------------------------------------------------
    SUMMERSIDE CA
    Single             10        15     -33.3%       41        38       7.9%
    Multiple            4        29     -86.2%       28        52     -46.2%
    TOTAL              14        44     -68.2%       69        90     -23.3%
    -------------------------------------------------------------------------
    ALL CENTRES
    Single             79        97     -18.6%      321       333      -3.6%
    Multiple           68        48      41.7%      174       151      15.2%
    TOTAL             147       145       1.4%      495       484       2.3%
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    (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: visit www.cmhc.ca or call 1-800-668-2642; Jason
Beaton, Market Analyst - Prince Edward Island, Canada Mortgage and Housing
Corporation, (506) 851-6047


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